The Loan Process: an Overview
Shopping for a mortgage loan? We'd be thrilled to answer your questions about our many mortgage solutions! Call us at (317)594-9800. Ready to get started? Apply Online Now
There is no question that getting a mortgage is a complex process. You wouldn't be here on our site if you could complete a one-page application and receive a great loan check cut in one day. But CrownMark Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in getting a loan.
Step one: determine how much you can borrow
A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This step is where CrownMark Mortgage can start to save you money. You will provide info on your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. When we review all this info we will provide a pre-qualification letter. Handle it with care — it can be a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are finding the loan that best fits your needs.
Step three: apply now! We make it easy
After you've signed an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. Finally, we will order an appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender needs are available, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Since you won't need to worry about these details, you get to think about moving, paint colors, carpet, and all the details of moving into a new home.
You've answered a few questions, provided detailed information, applied online, and Before you know it, you'll be moving! CrownMark Mortgage is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??
Have questions about the loan process? Call CrownMark Mortgage at (317)594-9800. CrownMark Mortgage answers loan process questions every day.