below to view external sites. Note: Government sites pertain to Gainesville,
The loan process is one of the most important steps taken in the purchase
of a home. These decisions will impact: time of payments, amount ouf payments,
if payments increase or deacrease and if any larger payment is due at the
maturity of the loan.
This step used to involve dressing up and visiting various banks to acquire
a loan. Many lending institutions are now online allowing borrowers apply
for a loan with out leaving the house. Since many of these institutions
are online, they are able to process loan information faster within their
departments resulting in a shorter response time.
Loan sites have come online like lendingtree.com which allows applicants
to submit one form to various banks to acquire the best rate. Online bank
sites are also available with most major institiutions allowing borrowers
to check everything out online before stepping out of the house.
A thorough study of loan types is necessary to fit the customer to the
proper loan depending on various financial factors.