An Overview of the Loan Process

No doubt, quite a lot to do in oder to get a mortgage loan. You would not be looking up loan information if it were possible to get a loan in a single day with a simple application. But VSI Home Lending 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. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 VSI Home Lending can start to save you money. You will give us information on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. We will go over all this info then give you a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your REALTOR® will use the pre-qual (as they may call it) in order 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 program that's right for you.

Step three: apply for your loan

Once you've 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 website. At the end of this step, we will order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with this company on your date of closing. Because you won't need to worry about these details, you get to think about moving logistics, painting, new carpet, and the fun parts of moving into your new house.

You've answered some few questions, given us detailed information, applied , and before you know it, you're deciding when to move in! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call VSI Home Lending at 2603382561. VSI Home Lending answers loan process questions every day.

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