Mortgage Loans
Mortgage loan origination is when a borrower applies for a mortgage loan. The lender processes the application, if it approves the loan, then provides the funds to the borrower.
At Vantic Solutions, we offer Mortgage Loan Origination services to help make getting a mortgage loan easier for our clients.
Here's how the mortgage loan origination process typically works:
- Application: The borrower submits an application for a mortgage loan, which includes information about their income, assets, and debts, as well as the property they wish to purchase.
- Pre-approval: The lender reviews the application and verifies the borrower's financial information. If the borrower meets the lender's criteria, they will receive a pre-approval letter, which outlines the loan terms, including the interest rate, loan amount, and repayment terms.
- Processing: Once the borrower has found a property and entered into a purchase agreement, the lender begins to process the loan application. This includes verifying the property's value, ordering an appraisal, and conducting a title search.
- Underwriting: The lender reviews the borrower's application and verifies their financial information to ensure that they meet the lender's criteria for the loan. This process typically includes checking the borrower's credit history, income, employment history, and other factors.
- Closing: Once the loan is approved, the borrower attends a closing where they sign the loan documents and receive the funds to purchase the property.
At Vantic Solutions, our experienced mortgage loan originators guide our clients through each step, providing support and expertise to help them navigate the often-complex world of mortgage lending. Whether you're a first-time homebuyer or an experienced real estate investor, we have the knowledge and expertise to help you find the right mortgage loan for your needs. Contact us today to learn more about our mortgage loan origination services.