The Loan Process: an Overview

	Looking for mortgage advice? We can help! Give us a call today at 651-426-1988. Ready to begin? Apply Now.

There's a lot involved when you get a mortgage loan. You wouldn't be here on our site if you could fill out a one-page loan app and get the best loan check cut the same day. But our team does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. What kind of monthly payment are you looking for? 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 abount 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 quewstions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where the process really begins and you save the most money. You will give us information about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it is a great tool when you make your offer! Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your real estate agent, we find the best program for you.

Step three: apply for your loan

After you've made the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not get much easier; you can apply right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order a professional appraisal on the home.

Step four: funding

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with this company on your date of closing. Since you won't have to coordinate this process, you get to think about moving, if you're going to repaint, carpet, and the fun parts of moving into a new house.

You've answered some few questions, given us lots of information, applied , and Before you know it, you're moving in! We take care of the loan details so you can spend your time finding your new home.