Home loan assistance companies have a tailor-made process to help you buy your dream property in the record minimal time. If you have surplus money in hand and firm determination of expanding your assets in mind, a reliable home loan partner is what you need to close the deal in a matter of days. So, here is the stepwise procedure that professional home loan provider follows.
- They collect your information and evaluate it
Whether you are eligible to apply for home loan or not is the first thing you need to know. Professional home loan provider will provide you an application form in which you furnish your financial details. On the basis of it, you are pre-qualified. In this process, a price range is fixed on the basis of which loan options available are compared. Down payment amount is fixed and thenceforth, you accord your intent to proceed.
- Collection of financial documents
Whatever you put in the application form is substantiated with the help of financial documents you submit. On the basis of your credit score is calculated and accordingly, you select the property from the options available.
- Property appraisal and evaluation
The property chosen is appraised on various grounds and is evaluated. Also, the enquiry about its clear title is done by the seasoned professionals.
- Loan underwriting
Finally, the title is locked post your consent and the request for title insurance is processed. Final closing schedule is also fixed at this stage.
- Final closing
Closure procedures are carried out on receipt of closure disclosure documents. Signing of papers is done and ultimately, you are entitled to hold the key and walk into the newly acquired property.
All such processes are done with ultimate satisfaction at PrimeLending, a service where the experts keep you updated on each stage and get the process completed seamlessly.