steps to take to apply for a loan

pastorkollack_loanfirm · Joined: 15 Sep 2008 Posts: 1 1.46 Dollars($)

Hello i am riccy
I want to know how to apply if i have the foloowing details

State: FL
Amount: $123,500
Property type: SF
Documentation: full
FICO: 559
LTV: 95%
Occupancy: OO
Loan purpose: Refinance/Cash Out

Will there be any charges/upfront fee if i am not in the same country with the lender.

Please i need comprehensive explaination on the steps to take and expected demands from the lender

michaelbrooks · Joined: 16 Sep 2008 Posts: 3 1.90 Dollars($)

Hello,
I am a lender licensed in Florida. Please email me at "michael.brooks@greenplanetmortgage.com" or give me a call. Even if I can't help you I will be glad to answer any questions you may have on the process.

[Email address deactivated as per forum rules. Thanks.]

chrisburns · Posted: Tue Sep 16, 2008 5:42 pm Post subject:

That would have to be an FHA loan.

You can apply through this site and you will be put in contact with a lender that will be able to help you get this done.

Basically the steps are:

1 Give your information to a lender to prequalify
2 Get terms from lender and accept or deny them
3 If you accept you will be asked to provide detailed information
4 an appraisal will be done at your expense
5 lender will approve or deny the loan
6 If the lender approves the loan they will ask for some additional information
7 You will eventually go to closing
8 You will get your cash within three business days if it's your primary residence

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.03 Dollars($)

If you do qualify, it would most likely be with FHA as mentioned above. So when looking for lenders, ask them if they have FHA before applying with them.

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