An Overview of the Loan Process

Shopping for a mortgage loan? We can help! Give us a call at 919-355-1034. Ready to get started? Apply Here.

There can be no doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our website if it were possible to complete a one-page application and receive an excellent loan check cut in one day. But Carolina Equity Services, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting a loan.

Step one: Decide how much you can afford

This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment amount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This is where the process really begins and Carolina Equity Services, Inc. can really save you money. You will supply information about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. We will go over all this information and give you a pre-qualification letter. Your real estate agent should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe work with with this company to set your closing date. Since you will not have to worry with this coordination, you can concentrate on the move, paint colors, carpet, and the fun parts of getting your new house.

You've answered a few questions, given us detailed information, applied , and Before you know it, you'll be moving! Carolina Equity Services, Inc. is in the business of mortgage loans; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call Carolina Equity Services, Inc. at 919-355-1034. Carolina Equity Services, Inc. answers loan process questions every day.