About the Loan Process
There's no doubt ; getting a mortgage loan is a complex process. You wouldn't be visiting our site if you could fill out a simple loan app and get a great loan check cut in one day. But 1st Security Home Mortgage Corp does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in getting a loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 process really begins and you save the most money. You will provide info about your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a great 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 the home that's right for you, we're busy researching the loan program that's right for your unique situation.
Step three: apply now! We make it easy
Once you have made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't get much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to ensure the papers your lender requires are in order, and you'll probably}likely sign all these papers at their officeWe coordinate with this company on your closing date. Because you will not have to worry with this coordination, you get to think about moving logistics, if you're going to repaint, carpet, and the fun parts of moving into your new house.
You've answered a few questions, provided lots of information, applied online, and before you know it, you are moving in! 1st Security Home Mortgage Corp is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call 1st Security Home Mortgage Corp at 918-748-4470/877-748-4470. It's our job to answer lending questions, so we're happy to help!