Are you worried on applying for mortgage? You should be rest assured that applying for loan has been made relatively easy, confidential and convenient.
- Check your eligibility
Most websites of mortgage companies would offer you with eligibility calculator for mortgage. It would help you see whether you qualify for the loan or not. It would also provide you information on the amount of loan you would receive from the moneylender.
- Choose a suitable offer
Among the several offers provided by the moneylender, you should avail the one suitable to your specific needs.
- Completing online application
Provide adequate and relevant information to the lender about your income, debt, asset and personal information identifying you as a person.
- Verifying your information
The lender would verify the provided information about you and the employment. It would help them identify you to be an authentic person along with opening a mode of communication through phone or email.
- Reviewing the application
The lender would review the application to see whether you qualify for specific mortgage and the amount that could be disbursed to you.
- Receiving the approved loan
Once the loan is approved, you would receive the confirmation call or email. The amount would be credited to your account in two or three business days.
How long does it take to receive mortgage loan?
The entire process for application, approval and disbursal would usually take around few days. However, it may take longer in some cases, depending on your credit history and provided information about income and employment. You could also check your loan status by logging in your account summary. After approval of your loan, the amount would be transferred automatically into your verified bank account. Based on the bank, it may take more than couple of days for disbursal of loan amount.