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Nevada Home Loan
 An overview of the loan process
Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is 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 in them as easy as possible, that's what we're here for.
| 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? You can get a rough idea of the first part by using the calculators on our website. But please, contact us because different loan programs and different lenders have varying guidelines. We'll also help you through different scenarios by asking a few simple questions. Based on your unique situation, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.
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| Step two: pre-qualify for your loan |
This is where the rubber meets the road and you save the most money. You supply information and documentation about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information we give you a Pre-Qualification Letter. Handle it with care -- to a home seller, it says you are able to aquire the money they want for their home. Your real estate 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!
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| 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, or, if you live here locally, we can meet in person at a time that is convenient for you. Many times steps two and three merge into one step, especially if you have a unique credit or income situation. That's when we may feel it best to get an actual credit approval from a lender before you go out looking for a home. This may take a little longer then a simple pre-qualification.
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| Step four: your loan is funded |
Your real estate 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. Once the loan doucments are signed, they go back to the lender who then makes sure the package is complete and all the conditions are met. This may take a couple days, depending on where the lender is located (many are not in the same state as the actual transaction), and what time of the month it is. Once the loan funds, the title company makes sure it records correctly and you get your keys!
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