After The Mortgage Application
Your mortgage company will begin the work of verifying all the
information you've provided. This process can take anywhere
from one to four weeks, depending on the type of mortgage you
choose, whether you're buying a home outside your local community,
or a host of other factors.
Within three business days after your application,
the mortgage company must give you a good faith estimate of
your closing costs. You'll also get a statement that shows your
estimated monthly payment, the cost of your finance charges,
and other facts about your mortgage.
Stay in touch with your mortgage company to speed
up the application process. Some home buyers find the closing
process to be one of the most intimidating aspects of buying
a home because it's so unfamiliar. If so, ask your mortgage
company what to expect at your closing.
Once you receive your approval, and you're
waiting to close on the sale of the home, don't go on a shopping
spree. The mortgage lender may do a final check of your credit
report or bank accounts to make sure you're not assuming more
debt or spending your cash reserves. There are steps you can
take to move quickly
if your loan is denied.
Apply today to let
MortgageYa Home Loan Center help you get the great financing
you want and deserve!
