The Loan Process: an Overview

	Searching for a loan? We will be glad to help! Call us at (215) 661-9570. Ready to get started? Apply Here.

There's no doubt that getting a mortgage is a complex process. You would not be looking up loan information if you could get a loan in one day with a simple application. But Diamond Mortgage Company does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major steps.

Step one: Decide on your maximum loan amount

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. And we can guide you to the right loan amount and best program for you when you answer a few questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will give us details about your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). When we review all this information we give you a pre-qualification letter. Your REALTOR® should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are finding the loan that best fits your needs.

Step three: apply for your loan

Once you've made the offer and it's been accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply online right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will work together to find a title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company to set your date to close. Since you don't have to worry about these details, you can concentrate on moving, paint colors, new carpet, and the details involved in moving into a new home.

You've answered some few questions, provided detailed information, applied , and Before you know it, you're moving! We take care of the loan details so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Diamond Mortgage Company at (215) 661-9570. It's our job to answer lending questions, so we're happy to help!