Research on loan programs and mortgage rates to decide on your budget, talk to a Green Tree loan specialist to get prequalified and apply for the loan, interact with a loan processor to get approved, and finally close the loan, reports Green Tree. Sign the documents at closing.Continue Reading
As a preparation step, review your credit report and budget to decide the amount you can pay as a monthly mortgage and the loan options and interest rates available to you. Use Green Tree's mortgage calculations to help you in the planning. The calculator shows estimated monthly payments for given loan amounts and interest rates. Gather the documents showing your income, such as pay stubs, W-2s, tax returns or back statements, advises Green Tree.
As the second step, contact Green Tree, and a loan specialist calls you back to assist you in prequalifying and applying for the loan. The loan specialist reviews your income, assets and debts, and discusses down payment and loan options, notes Green Tree.
As the third step, a loan processor organizes your application and supporting material to get ready for the final review. Then underwriters evaluate your loan application and make the credit decision. On approval, you receive a settlement statement before the closing date. It lists all of your closing costs, states Green Tree.
Finally, on the closing day, you review the final settlement statement and a truth-in-lending disclosure, and sign the deed of trust and a promissory note, states Green Tree.Learn more about Personal Loans