How the Mortgage Loan Process Works
Searching for a mortgage loan? We'll be glad to talk about your mortgage needs! Call us at 407-496-3555. Want to get started? Apply Here
There is no question that getting a mortgage is a complicated process. You wouldn't be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But Enotiva Lending Solutions Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major steps.
Step one: Decide on your maximum loan amount
This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment amount using the calculators on our website. 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: pre-qualify for your loan
This is where the rubber meets the road and you save the most money. You will supply details on your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission. We'll review all this information then will provide a pre-qualification letter. Your real estate agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our website. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender requires are available, and you'll probably sign everything at this company's office. We will work with the title company to set your date of closing. Since you won't need to coordinate this process, you get to think about moving, painting, carpet, and the fun parts of moving into a new home.
Once you've answered some few questions, given us detailed information, and applied online, you'll be moving in before you know it! Enotiva Lending Solutions Inc is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call Enotiva Lending Solutions Inc at 407-496-3555. We answer questions about the loan process every day.