About the Loan Process
Are you looking for a new mortgage loan? We'd be thrilled to talk about our many mortgage solutions! Give us a call at 303-471-4445. Ready to begin? Apply Now
Make no mistake, there's a lot involved when you get a mortgage. You wouldn't be here on our site if it were possible to complete a simple loan app and get an excellent loan check cut in one day. But Colorado Home Mortgages does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: determine how much you can borrow
This is a function of a couple things. 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? 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. 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: pre-qualify for your loan
This step is where Colorado Home Mortgages can begin saving you money. You will supply details about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). We'll go over this info then will give you a pre-qualification letter. Handle it with care — it is a great tool for buying your new home! Your real estate agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy finding the loan that's just right for your unique situation.
Step three: apply now! We make it easy
After you've signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply right here on our site. Finally, we'll order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will work together to designate an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender will need are available, and you will probably}likely sign everything at their officeWe coordinate with the title company on your date to close. Since you will not have to worry about these details, you get to think about the move, painting, carpet, and the details involved in getting your new home.
You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving in! Colorado Home Mortgages is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Colorado Home Mortgages at 303-471-4445. We answer questions about the loan process every day.