The Loan Process: an Overview

There's a lot involved when you get a mortgage. You would not be researching mortgage loans if it were possible to get a loan in a single day with a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four primary steps involved in obtaining a loan.

Step one: Decide how much you can afford

This is a function of a couple things. 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 abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 the process really begins and Capacity Lending, LLC can really save you money. You will provide info about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. When we review this information we will give you a pre-qualification letter. Your agent will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're deciding on the home that's right for you, we're busy finding the loan program that's just right for your situation.

Step three: apply now! We make it easy

After you've made the offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order a professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company on your date to close. Since you won't need to coordinate this process, you get to concentrate on the move, painting, carpet, and all the details of getting a new house.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving! We take care of the mortgage legwork so you can spend your time finding your new home.

Have questions about the loan process? Call Capacity Lending, LLC at 469-640-0400. Capacity Lending, LLC answers loan process questions every day.

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