The Four Steps of the Loan Process:The Loan Process: Four Steps

Make no mistake, there's quite a lot involved when you get a mortgage loan. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. But Team Funding Group 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

This is a function of a couple things. How much of a monthly payment can you afford? 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 give us details about your current job, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've made the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our website. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company on your date of closing. Since you will not have to worry with this coordination, you get to concentrate on the move, painting, carpet, and the details involved in moving into your new home.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call Team Funding Group at (925) 627-1400. It's our job to answer lending questions, so we're happy to help!

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Team Funding Group

Corp. ID # 01523867 | NMLS# 359895

1700 Ygnacio Valley Rd, No. 202
Walnut Creek, CA 94598