An Overview of the Loan Process
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There's no doubt that getting a mortgage is a complicated process. You wouldn't be visiting our website if you could fill out a one-page mortgage application and receive a great loan funded in one day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major milestones.
Step one: determine how much you can borrow
A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.
Step two: complete a pre-qualification
This is where the process really begins and you save the most money. You will give us information on your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). When we review all this information we give you a pre-qualification letter. Be careful with this letter — it can be a useful tool for buying your new home! Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for a new home with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe coordinate with the title company to set your date of closing. Because you will not have to coordinate this process, you can concentrate on the move, if you're going to repaint, carpet, and the fun parts of moving into your new house.
You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving in! United Fidelity Funding Corp is in the business of mortgage loans; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call United Fidelity Funding Corp at 918-508-7300. It's our job to answer lending questions, so we're happy to help!