How the Mortgage Loan Process Works

There is little question that getting a mortgage is a complicated process. You would not be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But Chris Caggiano - Grand Oaks Funding, LLC 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: Decide on your maximum loan amount

This is a function of a couple things. 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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 step is where Chris Caggiano - Grand Oaks Funding, LLC can begin to save you money. You will supply information on your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. We'll review this information then give you a pre-qualification letter. Handle it with care — it is a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're deciding on your new home, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you will probably}likely sign all these papers at their officeWe coordinate with the title company on your date of closing. Since you won't need to coordinate this process, you get to think about moving logistics, if you're going to repaint, new carpet, and the fun parts of getting a new home.

You've answered a few questions, given us detailed information, applied online, and the next thing you know, you're deciding when to move in! Chris Caggiano - Grand Oaks Funding, LLC is in the business of mortgage loans; 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. We answer questions about the loan process every day.

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