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Are you 62 Or Older? Click here to read a brief fireside chat with Larry DeFeo
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Once you select Ladd Mortgage to obtain your home loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.
Throughout the loan-application process, we provide you with regular updates. You can also e-mail us with questions or new information. And if you want assistance, a mortgage expert who can answer questions is just a phone call away.
Here's an overview of the loan-application process.
Note: The below process assumes the borrower(s) will be approved for the loan.
STEP ONE -- Determine how much you can borrow
Click Here (or on the "Pre-Qualification" link in the Home Buying Center) to find out how much home you can buy, even before you begin looking. Once you've answered a few simple questions, we'll calculate your buying power, based on standard lender guidelines.
STEP TWO -- Pre-Qualify and save money
To complete the pre-qualification step, click on the Get Pre-Qualification letter button. You'll need to supply some brief information about employment, assets, etc. We'll contact you for authorization to obtain your credit report. Once we've reviewed this information, we'll issue your Pre-Qualification Letter, which gives you the clout of an "all-cash" buyer. As you begin looking for a home, we'll begin looking for the best loan to meet your specific needs. Your Real Estate Agent will use your Pre-Qualification Letter to negotiate the best deal for you.
You'll also be asked to enter a "User ID", so throughout the loan process you can re-access information you have already provided. This saves you from having to input the same data several times.
Important Note: Do not allow anyone to obtain free credit reports for you. These reports will have to be obtained later anyway, which may lower your "credit-risk score"! This score is extremely important to your overall credit evaluation in the underwriting process for your mortgage loan.
STEP THREE -- Apply Now! Getting started is easy.
When you've selected a property and have a contract with the Seller, the next step is to complete your loan application, which can be done easily through our website. Click on Apply For A Loan to start your application. Once submitted, we will contact you to discuss loan programs and rates that are available for your individual situation.
At the appropriate time we'll order a property appraisal for you.
STEP FOUR -- Your Loan is Approved and Funded
Your attorney (or title company in Florida) will handle the funding of your loan, along with many other factors which make your purchase go smoothly. We have attorneys that we work with on a regular basis that we would be happy to recomend if you need help.
We will coordinate with your closing team and you'll sign the final papers at their office.
Simple, Straightforward, Cost Effect and FAST!
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