The Loan Mortgage Process: Four Steps
There is little doubt ; getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a loan in a single day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Step One: Determine how much you can borrow
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 amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step Two: Complete a pre-qualification
This step is where Diamond Mortgage Lending can start saving you money. You will give us info about your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we have reviewed this info we provide a letter of pre-qualification. With this letter, your Realtor® will negotiate the best deal for your new home. While you're deciding on your new home, we're busy researching the loan program that's just right for your unique situation.
Step Three: Apply now! We make it easy
Once you have signed an offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. When the time is right, we'll order an appraisal of your new home.
Step Four: Your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender needs are available, and you'll probably sign all these papers at their office. We will coordinate with this company on your date of closing. Because you won't have to coordinate this process, you get to concentrate on the move, painting, carpet, and the details involved in moving into your new home.
Once you've answered some few questions, given us detailed information, and applied online, you'll be moving in before you know it! Diamond Mortgage Lending is in the business of mortgage loans; you're not — so we do the work. Doesn't that make sense?