Get started with knowing the Sistar Mortgage Purchase Process
Mortgage brokers provide an extremely important service by giving you an unbiased analysis of your situation and the many, many loan programs available. Most lenders want to sell you a loan that earns the most for them. That’s not how we work.
The first step in understanding how a mortgage works is to know exactly what a mortgage is – a promise to repay someone for a loan on a property. There are many types of loans, and most must be paid back in installments over time with interest. All loans share one trait in common: they allow you to leverage debt to purchase an asset that should gain value over time.
An experienced Sistar Mortgage will guide you through the confusing tangle of mortgage options and get one that’s right for you. During our consultation with you, we will look at your long term planning and financial goals and determine your loan affordability and suggest best rates and packages for you.
The loan officer will take the loan and run it through an automated system to see if the loan is approvable in its current form.
In the final step, the title company takes over, and the money from your lender is passed to the seller or the seller’s lender. Once all of the paperwork is signed, then you have successfully obtained a loan on a property and are ready to take possession