An Overview of the Loan Process

No doubt, quite a lot involved when you get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in one day with a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a home loan involves four major milestones.

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? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 Chris Caggiano - Grand Oaks Funding, LLC will start saving you money. You will give us details about your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we have reviewed this info we provide a letter of pre-qualification. Be careful with this letter — it is a great 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 the home that's right for you, we are finding the loan that best fits your needs.

Step three: apply for your loan

Once you have made the offer and it's been accepted, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply online 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

Your REALTOR® and the seller's will coordinate to designate a title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date to close. Because you don't need to worry with this coordination, you can think about the move, paint colors, new carpet, and all the details of moving into a new house.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! Chris Caggiano - Grand Oaks Funding, LLC is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Chris Caggiano - Grand Oaks Funding, LLC at (718) 477-4405. It's our job to answer lending questions, so we're happy to help!

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