About the Mortgage Loan Process
There can be no doubt ; getting a mortgage loan is a complex process. You wouldn't be visiting our site if you could complete a simple mortgage application and get a great loan funded in one day. But Capacity Lending, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in obtaining a loan.
Step one: determine how much you can borrow
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. 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: complete a pre-qualification
This is where the process really begins and you save the most money. You will provide details on your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. When we review this info we will give you a pre-qualification letter. 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 home with your agent, we find the best program for you.
Once you have made the offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date of closing. Since you will not have to coordinate this process, you get to concentrate on the move, if you're going to repaint, new 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'll be moving! Capacity Lending, LLC is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Capacity Lending, LLC at 469-640-0400. It's our job to answer lending questions, so we're happy to help!