The Four Steps of the Loan Process: The Loan Process: Four Steps

There's little doubt ; getting a mortgage loan is a complicated process. You wouldn't be looking up loan information if it were possible to get a mortgage loan in one day by filling out a simple application. We do 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 loan involves four major milestones.

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment about using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This step is where Trevor McLean
NMLS# 1619298 will begin saving you money. You will provide details on your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we've reviewed your information, we'll provide you with a pre-qualification letter. Your real estate agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're deciding on your new home, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

After you've signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will coordinate to find an escrow/title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need are available, and you'll probably}likely sign all these papers at their office. We coordinate with the title company on your date of closing. Since you will not have to coordinate this process, you get to concentrate on moving logistics, if you're going to repaint, carpet, and all the details of getting a new home.

You've answered a few questions, given us detailed information, applied , and before you know it, you're moving in! We do the mortgage legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Trevor McLean
NMLS# 1619298 at 727-290-6863.