An Overview of the Mortgage Loan Process
Shopping for a mortgage? We'd be thrilled to discuss your mortgage needs! Call us at (702) 730-2085. Ready to begin? Apply Online Now
Make no mistake, there's quite a lot to do in order to get a mortgage loan. You wouldn't be looking up loan information if it were possible to get a mortgage loan in one day by filling out a simple application. But Pinnacle Lending Group, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in obtaining 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? 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. 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 is where Pinnacle Lending Group, Inc. will begin to save you money. You will provide information about your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualification letter. Be careful with this letter — it can be a useful tool for buying your new home! 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 a new house with your agent, we find the best program for you.
Once you have made an offer and the sellers have accepted, you should complete the loan application. Applying for your loan could not get 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 a professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender needs are in order, and you will probably}likely sign everything at their officeWe work with with this company to set your date of closing. Because you will not need to worry about these details, you get to think about the move, if you're going to repaint, carpet, and all the details of getting your new house.
You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving! Pinnacle Lending Group, Inc. is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Pinnacle Lending Group, Inc. at (702) 730-2085. It's our job to answer lending questions, so we're happy to help!