About the Loan Process

There's quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if it were possible to complete a simple loan app and get a great loan check cut in one day. But Ashok Lakshmanan does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

Step one: determine how much you can borrow

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? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: pre-qualify for your loan

This is where the rubber meets the road and Ashok Lakshmanan can really save you money. You will supply info about your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we have gone over all this information we give you a pre-qualification letter. Be careful with this letter — it is a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your date to close. Because you won't have to coordinate this process, you can think about moving logistics, painting, carpet, and all the details of moving into your new house.

You've answered a few questions, given us lots of information, applied online, and the next thing you know, you are deciding when to move in! We take care of the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call Ashok Lakshmanan at 6307173600. Ashok Lakshmanan answers loan process questions every day.