If you’re getting ready to buy property, congratulations! Whether buying your first home or you’ve already purchased several pieces of property, Cliffco Mortgage Bankers knows that the mortgage process can feel daunting to everyone. There are numerous steps you have to take, there’s documentation you’re going to need and concepts related to home loans that you need to be familiar with.
Cliffco Can Help You Secure a Home Loan
Cliffco is in the business of helping people navigate the home financing process and we can help you navigate those steps so you can secure a loan. We know that knowledge is key to finding the best loan for you. So we want you to know the steps that are involved in the mortgage loan process.
Before You Come to Cliffco and How We Can Help
According to the Home Buying Institute website, the first steps you should take before securing a loan involve assessing your financing. You should establish a personal budget and try to learn how much you can afford. It’s a good idea to check your credit score which has an important role in determining what loan you may be able to secure. You should also do what you can to start saving as much money as you can and begin the process of gathering documents.
Cliffco can assist you with what you need to get done. We can help you apply for and receive a free credit check. We’ll also help you gather the information you need to apply for your loan. We’ll crunch the numbers and we can help you figure out what purchase price will work with you and we’ll tell you what that means in terms of the down payment.
We can help you get pre-approved for a home loan and Cliffco will ask you to provide documents to make that happen. You can find the documentation you’re going to need to get pre-approval. Among the things you’re going to need are tax documents from the returns, W-2s and 1099s, your pay stubs from the last 30 days, bank statements and pension securities and investment statements from the last two months, documents related to other properties you may own, and proof of child support or alimony as well as proof of social security income. If you’re self-employed, you’ll need a copy of your business license and proof of self-employment.
The Steps Towards Final Approval
Once you put together the application, we’ll give your documents over to one of our underwriters who will check to ensure your qualifications are acceptable and your loan can be approved. Once your file is deemed to be compliant, we’ll give you a clear to close and you can go ahead and set a closing date.
Cliffco Mortgage Bankers can get you through all of the steps and we can get you through to closing with a minimum of difficulty. We’ll explain the process as you go along and we’re always happy to answer any questions you might have. To get started, contact us today.