How Does the Mortgage Loan Process Work Nationwide?

Video Transcript

"Hi so you are wondering how a mortgage loan the process mortgage loan works nationwide. I'll be able to explain how that works. My name is Adriel Torres and I'm the owner of ultimate credit today dot com. The process is actually about the same in any state whether it's Hawaii, Florida or New York. Basically go to either a mortgage broker or you go to a lender to obtain the loan. The process is similar in many ways but could be different in a few ways. As far as how it's similar, you are going to have a rate, you are going to have a mortgage payment, you are going to have an application, you are going to have a fees that are due. And those are basically standard. Now how they are different , some states require an attorney to do the closing for the loan. Some states like Florida does not require an attorney, you can go to a title company who is the third party just like an attorney and disperses the fund that they collect at closing to the mortgage broker, to the lender, to the city for taxes and so forth and so on. So as far as the process, it's pretty much the same through out obtaining the loan, it could be different at the end where you actually close the loan, whether you close the loan with an attorney or closing the loan with a title company such as the state of Florida. And that's how the process works on a national level. Again thank you very much. My name is Adriel Torres and I'm the owner of ultimate credit today dot com. Thank you."