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Serving the
Wisconsin Fox Valley communities of: |
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Specializing in Wisconsin Buyer
Agency and |
Phone H.
Strobl Realty at:
920-731-9232 - 920-810-4616 - 877-296-5122
Phone H.
Strobl Realty at:
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Disclaimer: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of the RANW MLS. Real Estate listings held by brokerage firms other than H. Strobl Realty, Inc. include the name of the listing broker. Only listings of Brokers participating in IDX are included. 2002 REALTORS® Association of Northeast Wisconsin Multiple Listing Service. All Rights Reserved.
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The loan application process, with its countless loan documents, unfamiliar terminology and uncertainty, can be complicated and stressful. However, if you understand the steps required to apply for a mortgage loan, much of the stress can be avoided. The first thing you should do – even before you start shopping for a house – is choose a lender and get pre-qualified for a mortgage loan. Pre-qualification provides you with a ballpark estimate of how large a mortgage you can afford. This will help you to focus your shopping on homes that fit into your price range. To get pre-qualified, set up a meeting with the lender. The lender will ask you many questions regarding your income, debts and assets, as well as explain your financing options and the loan amount you can qualify for. Many buyers choose to get pre-approved, as well, at this time. A loan pre-approval gives you a stronger bargaining chip when you are negotiating with the seller because you have basically already been approved for a mortgage loan. Once you have an accepted offer to purchase on a home, your next step is to set up a loan application meeting with your lender. During your loan application meeting, the loan officer will fill out, or help you fill out, the loan application form. The application asks for information on the property you are buying, terms of the purchase contract and your employment and financial history. You can complete the loan application process much more easily and accurately if you prepare for it ahead of time. When you call your lender to arrange the loan application meeting, make sure to ask the lender what information and supporting materials you will need to have with you to complete the application. After you have submitted your loan application, your loan officer gives your file to the loan processing department where the information is verified and calculations are checked. The loan then passes to the underwriting stage, where the decision to approve or not approve is made. Once your loan is approved, it moves to the final step in the process – the closing of the transaction. Documents must be signed, fees paid and title transferred. Once the sale is closed, the house – and mortgage – are yours |
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor the owners of this site nor RANW MLS, Inc. shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. |
