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Loan Process Procedure - how a loan is made
1
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Contact a loan officer to discuss your individual financial situation.
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2
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Your loan
officer will contact you to assess your situation and determine your
financial goals. Expect to discuss the following information: estimated value of
your home, your credit history, and your home's equity.
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3
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Based on the information
collected and your credit report, your loan officer will quote you an
interest rate and APR and the loan amount that you are likely to qualify
for.
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4
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Your loan officer will request financial documents and set an
appointment for an appraiser to meet you to assess the value of your home.
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5
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With your
application now complete, your loan officer will notify you when your loan is
approved. At this time an appointment will be made for signing the loan
papers. You will receive your funds shortly after that. |
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Equal Housing Lender