Financing Your Home
There’s a lot involved in getting a mortgage loan. Our relationship with a Loan Specialist at Tuttle Group of Fairway Mortgage can help you get the service and rate you deserve!
The Loan Process
Make no mistake, there’s a lot involved in getting a mortgage loan. We will do most of the heavy lifting for you, so you can concentrate on what’s important — preparing to move into your new home, saving money, or making plans for your home equity check. There are four main steps involved in getting a loan. You’ll see that we’ve made your part as easy as possible!
Step One: Determine how much you can borrow
This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? The first part you can get a rough idea of by 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 help 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 is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission for our loan specialists to run your credit score. When they review all this information they will give you a Pre-Qualification Letter. Handle it with care – to a home seller, it’s like a suitcase full of cash! Your realty agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you’re pre-qualified. It gives you buying clout! And while you’re picking out the home that’s right for you, our loan specialists are busy finding the loan that’s right for you.
Step Three: Apply now! We make it easy
Once you’ve made an offer and it’s been accepted, it’s time to complete the loan application. It couldn’t be easier, and you can do it online, right here at our website. When the time is right, we’ll order an appraisal of your new home.
Step Four: Your loan is funded
Your realty agent and the seller’s will work together to designate an escrow/title company to handle the funding of your loan once it’s approved. We’ll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you’ll sign everything at the escrow/title company’s office.