The Four Steps of the Loan Process

No doubt, a lot involved in order to get a mortgage. You would not be researching mortgage loans if you could get a mortgage loan in one day with a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a mortgage loan involves four major milestones.

Step 1: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step 2: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You will provide information about your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on the home that's right for you, we're busy finding the loan program that's right for you.

Step 3: apply for your loan

After you've signed the offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not be much easier; you can apply online right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step 4: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will require are in order, and you'll likely sign all these papers at this company's office. We will coordinate with the title company to set your date to close. Since you won't have to worry with this coordination, you can concentrate on moving logistics, if you're going to repaint, carpet, and the details involved in getting your new home.

Once you've answered a few questions, provided lots of information, and applied, you'll be moving in before you know it! We take care of the mortgage legwork so you can focus on finding your new home.