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Hampton
Funding Group provides two easy ways to apply for a loan. All methods
are completely secure, are free of cost and risk, and totally confidential.
Refer to our Mortgage Glossary to better understand some commonly
used mortgage terminology.
Mortgage
expenses for processing your loan vary. You need to consider the closing
expenses associated with your loan.
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The
Loan process can seem confusing, and the amount of paperwork
can be intimidating. There are five steps in the loan process,
and understanding what happens is important. We help you complete
the process by explaining each step to you and by making sure
you understand each step thoroughly.
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Hampton
Funding Group is offering a FREE
no obligation report called “The Ten Things You
Need To Know Before You Get Any Mortgage, Even If You Don’t
Get It From Us!”
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Prequalification
- Before
you apply for a mortgage, we need to know your current
monthly income, currente monthly expenditures, desired
monthly mortgage payment, anticipated sale price or value
of your home, and your anticipated downpayment amount.
This information makes it much easier to figure out how
much you can borrow or refinance. We offer a free, online
prequalification service.
- Application
- You
will be asked to complete an application and sign forms.
Be prepared to provide detailed information about your current
and previous employers, any assets you have (savings, checking,
401K, or any other investment accounts), and any existing
debt. You
can print out the full application in advance, and accelerate
the entire loan application process. We
offer a full application form that is downloadable
for viewing and printing via Adobe Acrobat Reader. Print
out a full application
to secure your loan as fast as possible.
- Verification
- The
information you submitted on your application must be verified.
We try to complete this process as quickly as possible to
insure timeliness and convenience.
- Underwriting
- This
is the loan approval process. It consists of the analysis
of risk that will determine the ability of the borrower
to repay the loan, and the matching to that risk to an appropriate
amount, rate and term on the mortgage loan.
- Settlement
-
Also
known as closing - this the procedure that is followed for
funding your loan. It is a meeting with attorneys, real
estate agents, title company representatives, sellers and
buyers. This is the last step where final documents are
presented and signed.
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