The Home Loan Process
Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
Why Pre-Approve?
We recommend our buyers get pre-approved before beginning their home search.
Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means. And it puts you in position to have your offer considered when you find the right home!
Mortgage & Loan Basics
STEPS TO FUNDING YOUR HOME PURCHASE
1
FINANCIAL PRE-QUALIFICATION OR PRE-APPROVAL
Application and interview. Buyer provides pertinent documentation, including verification of employment Credit report is requested Appraisal scheduled for current home owned, if applicable.
2
UNDERWRITING
Loan package is submitted to underwriter for approval
3
LOAN APPROVAL
Parties are notified of approval. Loan documents are completed and sent to title
4
TITLE COMPANY
Title exam, insurance and title survey conducted. Borrowers come in for final signatures
5
FUNDING
Lender reviews the loan package. Funds are transfered by wire.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
Lender
CTC Funding LLC
John Metta
Mortgage Loan Originator
Individual NMLS - 1689792
Company NMLS - 1939153
- (908) 370-7223
- (908) 370-7223
- jmetta@ctcfunding.net
- 934 Stuyvesant Avenue - Suite 10, Union, NJ 07083
Having my Real Estate License, Mortgage License and a Bachelor's Degree in Finance and Real Estate, I understand the real estate and mortgage industry from a macroeconomics perspective. I spent the last 15 years studying the financial and real estate markets and take pride in helping home buyers "Fund The American Dream". I love to provide information to home buyers on different loan programs and selecting the best option to suit their needs. I specialize in Conventional, FHA and VA Loans. In this generation, most people will have no pensions, little social security and smaller 401K's. Owning a home is more important than ever to be on your way to a comfortable future.
Let's Get Started
Lender
CTC Funding LLC
Michael Rible
Mortgage Loan Originator
Individual NMLS - 1227749
Company NMLS - 1939153
- (908) 377-4769
- mrible@ctcfunding.net
- 934 Stuyvesant Avenue - Suite 10, Union, NJ 07083
Whether you're buying, selling, refinancing, or building your dream home, you have a lot riding on your loan specialist. Since market conditions and mortgage programs change frequently, you need to make sure you're dealing with a top professional who is able to give you quick and accurate financial advice. As an experienced, licensed mortgage loan originator, I have the knowledge and expertise you need, to explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal and I am committed to providing my customers with mortgage services that exceed their expectations.
Let's Get StartedApplication & Processing
What happens when a loan goes "live"
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
