An Overview of the Loan Process

There's a lot to do in oder to get a mortgage loan. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out a simple application. But Citywide Group does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

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. 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: complete a pre-qualification

This is where the process really begins and you save the most money. You will supply information about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). We'll go over all this information and provide a letter of pre-qualification. 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 shopping for your new home, we're busy researching the loan program that's just right for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, it's time to complete the loan application. Applying for your loan couldn't be much easier; you can apply online right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company on your closing date. Since you will not need to worry with this coordination, you get to concentrate on moving, if you're going to repaint, carpet, and the details involved in moving into a new home.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you are moving in! Citywide Group is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Citywide Group at 5627761515. It's our job to answer lending questions, so we're happy to help!