An Overview of the Loan Process

No doubt, a lot involved when you get a mortgage. You wouldn't be here on our site if you could fill out a one-page application and receive an excellent loan check cut the same day. But Union Home Mortgage 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: Decide how much you can afford

A couple of factors determine this amount. 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. 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 step is where Union Home Mortgage will start to save you money. You will give us details on your current job, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we have reviewed this info we will provide a letter of pre-qualification. 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 looking for your new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at their officeWe coordinate with this company on your date of closing. Because you don't need to worry with this coordination, you can concentrate on moving logistics, if you're going to repaint, carpet, and the fun parts of moving into a new house.

You've answered some few questions, given us lots of information, applied online, and Before you know it, you'll be moving! Union Home Mortgage is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Union Home Mortgage at 3172889434. Union Home Mortgage answers loan process questions every day.