Understanding all the terms and availability of mortgage options can get challenging when owning a home. Thankfully, with the help of the top-rated Long Beach mortgage broker, Long Beach Home Loan, we’re here to help provide you with all the answers to any questions you might have about mortgages.
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1. Start by Estimating Your Budget
Even before you begin the loan process, it’s essential to understand what your budget will be. Having a budget will help you narrow down your searches in looking for a home and your mortgage products.
2. Get a Pre-Approval
Once you have an estimated budget, you can check out different loan options and get pre-approved. Getting a pre-approval letter is a helpful way to let homeowners know you’re serious about buying as you begin searching around.
3. Begin Shopping Around
Then, after you’ve been pre-approved, you can go into searching with more confidence. The fun part of the mortgage process is always shopping around for your dream home. Working with trusted real estate will help ensure you’re asking the right questions when touring homes.
4. Make an Offer
When you find the home you’re interested in, your real estate agent will also help you structure your offer in a way that will be most appealing to the sellers.
5. Complete the Mortgage Application
After your offer has been approved, you will go back and select a lender and begin the process of completing your mortgage application. Since you’ve already been pre-approved, much of this process should already be complete. The addition of a few other documents will help to secure your loan.
6. Mortgage Processing and Underwriting
The mortgage processing stage begins once your application has been submitted. Behind the scenes, credit and title reports are being run, tax transcripts, and other banking and financial information are collected.
Finally, once everything checks out with your mortgage processing and underwriting, you’ll get to closing day. There will be a nearly endless stack of papers to sign, but the good news is once it’s all over, you’ll get your keys!
Call Long Beach Home Loan Today!
Finding a mortgage broker that is a good fit for you is not always easy. Rather than add to the mortgage process’s stress by searching for a qualified mortgage broker, give us a call at Long Beach Home Loan to speak with one of our brokers today.
At Long Beach Home Loan, we have the same critical tools and mortgage products as the larger banks but are a family-based local business that focuses on serving our clients, not the corporation.
Long Beach Home Loan is a well-versed business with customized services to help you with all of your home loan advising needs. Call us at 562-340-9453 or visit us online for a FREE evaluation of your real estate needs.
Long Beach Home Loan
Mortgage Loan Originator