An Overview of the Loan Process

There is no question that getting a mortgage is a complicated process. You would not be looking up loan information if it were possible to get a mortgage loan in one day with a simple application. But Homewithloan.com does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major milestones.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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 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. 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: pre-qualify for your loan

This is where the rubber meets the road and Homewithloan.com can really save you money. You will supply details about your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. When we review this info we will give you a pre-qualification letter. Handle it with care — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we'll order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to decide on an escrow/title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your date of closing. Since you will not need to coordinate this process, you get to think about the move, if you're going to repaint, carpet, and all the details of getting your new home.

You've answered some few questions, provided detailed information, applied online, and before you know it, you're deciding when to move in! We do the mortgage legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Homewithloan.com at 972.798.2110. Homewithloan.com answers loan process questions every day.