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Briefer

People who have plans purchasing a new home can be categorized into two general groups: a.) Those who don’t have enough money to purchase a new home, or b.) Those who have the capacity but don’t see “cashing out” as a wise investment. The best option would be to borrow from a lending agency.

To avail of this opportunity, lenders require their borrowers to sign an agreement using their new homes as collateral in case they have payment defaults. This is the very essence of the mortgage process.

The Process

Regularly, loan officers require applicants to provide financial documents, e.g. bank statements, credit accounts, and pay stubs, to generate a picture of the applicant’s current expenses, as well as credit and employment histories. The provided data will serve as the lending institutions’ basis in approving the application; determine the amount to be loaned and whether the applicant qualifies for the applied interest rate.

To make the process easier, Nationwide Mortgage Company provides you with an Online Pre-Qualification Form. The process is summarized as follows:

1. Provide basic and/ or estimated information of your income and how much you plan to borrow.
2. Nationwide Mortgage Company will respond to you via mail, e-mail or phone, depending on the data you provide, within one business day after filing.
3. Upon approval of your loan, our staff will inspect the new property to ensure all agreements and requirements are met.
4. Mortgage closing is conducted. This is where the applicant & seller signs all necessary papers and payments are made to finalize the assumption of property ownership.

Click on the icon to proceed to our Online Pre-Qualification Form.