The Mortgage Loan Process: An Overview
There is no doubt that getting a mortgage is a complicated process. You would not be researching mortgage loans if you could get a mortgage loan in one day by filling out a simple application. But Quantum Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Step One: Determine how much you can borrow
This is a function of a couple things. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple 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 step is where Quantum Mortgage can begin to save you money. You will provide information on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualification letter. Be careful with this letter — it is a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out your new home, we are finding the best loan for you.
Step Three: Apply now! We make it easy
Once you have signed the offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. Finally, we'll order the appraisal of your new home.
Step Four: Funding
The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure the papers your lender will need are in order, and you will likely sign all these papers at their office. We will coordinate with the title company to set your date to close. Since you will not have to worry about these details, you get to think about the move, paint colors, carpet, and the details involved in moving into your new home.
After you have answered some few questions, given us detailed information, and applied online, you'll be ready to move sooner than you think! We take care of the legwork so you can spend your time finding the new home that's right for you.