An Overview of the Mortgage Loan Process

There is little doubt that getting a mortgage loan is a complex process. You wouldn't be visiting our website if it were possible to complete a one-page loan app and get the best loan funded in one day. But Chris Caggiano - Grand Oaks Funding, LLC 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: Decide how much you can afford

A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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 Chris Caggiano - Grand Oaks Funding, LLC can start to save you money. You will supply info on your current job, assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We will review this information and will provide a pre-qualification letter. With this letter, your real estate agent 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 real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed an 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: your loan is funded

Your REALTOR® and the seller's will work together to decide on an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure all the papers your lender will require are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date to close. Since you won't have to coordinate this process, you get to concentrate on moving logistics, if you're going to repaint, carpet, and the fun parts of moving into a new house.

You've answered a few questions, given us lots of information, applied , and the next thing you know, you're moving in! Chris Caggiano - Grand Oaks Funding, LLC is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Chris Caggiano - Grand Oaks Funding, LLC at (718) 477-4405. Chris Caggiano - Grand Oaks Funding, LLC answers loan process questions every day.

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