Loan Process Steps

Loan Process Steps
The adventure begins .​
As you​ enter into a​ loan process,​ be diligent in​ expressing your
concerns with questions you​ need answers to​ .​
Fining out your plans,​ and the​ results
you want from refinancing your home is​ our beginning point .​
You went through a​ long drawn out process of​ paperwork here - paperwork there in​ buying your home .​
In refinancing,​ it’s not that drastic because you​ have established
yourself as​ a​ home owner.
Helping you​ get those results,​ we discuss your consumer history (credit report) .​
the primary source of​ direction you​ go through in​ the​ details of​ your new home
mortgage program .​
Important items that you​ provide are used in​ the​ pre-qualification
steps as​ your loan request package is​ put together.
Your consumer history report shows a​ lot about how you​ manage your spending
income .​
Scores are assigned by the​ Credit Bureaus based upon their grading
principles from 350 to​ 800 .​
They receive reports from almost every kind of​ lender
whether a​ department store,​ an​ auto loan,​ to​ a​ doctor expense .​
The percentage of
consumers who experience ‘bumps’ on​ their credit is​ very high .​
It’s how you​ handle
the ‘bumps’ that counts the​ most in​ your score.
Having the​ report,​ gathering important documents like pay stubs,​ W-2’s,​ bank
statements,​ mortgage statements,​ home owners insurance policy coverage,​
1040 tax returns,​ and so forth are reviewed for stability,​ verification,​ and usage
in the​ loan obtaining process .​
When all the​ items are in​ hand,​ we then discuss your loan request package with
different mortgage lenders who will accept your ‘middle’ consumer history score,​
your income,​ work history,​ mortgage history among other items in​ your request.
We establish the​ different loan programs available to​ your qualifications and needs
for a​ loan period of​ 2-50 years,​ loan % rate,​ loan payment choices,​ establishing of​ an​
escrow account,​ return of​ home equity,​ consolidation of​ consumer debts etc.
Keeping in​ mind,​ that all of​ the​ program characteristics most meet or​ establish a
financial goal to​ help you​ improve your lifestyle .​
Debts are the​ down side of​ having
financial freedom .​
Helping you​ understand the​ importance of​ having excellent
consumer history and maintaining it​ is​ a​ personal goal of​ mine.

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