Purchasing your first home doesn’t have to be a nerve-racking or a puzzling experience. Here at EQ Loans, our goal is to make you feel comfortable throughout the entire mortgage process from beginning to end. That’s why we created our simple 7 step mortgage process.
This will give you an idea of what loan amount and purchase price you can afford.
There are many loan options available from first-time buyer programs to traditional conventional, jumbo, and FHA loans.
Once you've been pre-approved and have an idea of what price range you qualify for, you can work with a Realtor to view homes for sale in the areas you'd like to live.
Depending on how much time has passed since we issued your pre-approval, we may need to collect some updated information and updated documents from you.
At this point, if you'd like to secure your interest rate, your Mortgage Loan Originator will send you a lock agreement to confirm the terms of the loan and rate.
It is advisable to schedule a home inspection with a professional who will walk you through the property to look for any red flags such as structural damages or appliances that may not be working properly and other items that may need to be fixed. While your loan is being reviewed and processed, we will schedule an appraisal appointment with the seller's agent to confirm the value of the home.
Once we have everything we need, your Processor will submit your complete file to the underwriting department for approval. If approved and you meet all outstanding conditions to close, we will prepare loan documents for you to sign.
This will give you an idea of what loan amount and purchase price you can afford.
There are many loan options available from first-time buyer programs to traditional conventional, jumbo, and FHA loans.
Once you've been pre-approved and have an idea of what price range you qualify for, you can work with a Realtor to view homes for sale in the areas you'd like to live.
Depending on how much time has passed since we issued your pre-approval, we may need to collect some updated information and updated documents from you.
At this point, if you'd like to secure your interest rate, your Mortgage Loan Originator will send you a lock agreement to confirm the terms of the loan and rate.
It is advisable to schedule a home inspection with a professional who will walk you through the property to look for any red flags such as structural damages or appliances that may not be working properly and other items that may need to be fixed. While your loan is being reviewed and processed, we will schedule an appraisal appointment with the seller's agent to confirm the value of the home.
Once we have everything we need, your Processor will submit your complete file to the underwriting department for approval. If approved and you meet all outstanding conditions to close, we will prepare loan documents for you to sign.
To get started on your mortgage pre-qualification click HERE or contact us at contactus@eqloans.com
Finance: This offer is not guaranteed if you do not continue to meet EQ Loans criteria and other factors bearing on your credit worthiness (including acceptable property collateral, income, assets and employment history). Not all applicants will qualify for the rate and monthly payment shown. Monthly payments do not include property taxes, property insurance, and homeowners association dues. Your exact loan’s interest rate and payments will depend upon the term of your loan, your credit history, and other qualifying factors. To qualify for a mortgage, borrowers must be U.S. citizens or permanent residents, and meet Eq Loans underwriting and Investor requirements. Loans valid for the refinance or purchase of an owner-occupied residence. Loan amounts range up to $2,000,000 for Jumbo and at or under conforming loan limits within your state and county for conventional and government sponsored programs. Rate subject to change depending time of rate lock. Call 844-390-5978 for exact details and qualifying information.
Refinance: By refinancing your existing loan, your total finance charge may be higher over the life of the loan.