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

There can be little question ; getting a mortgage is a complicated process. You wouldn't be visiting our website if you could complete a simple loan app and receive an excellent loan check cut in one day. 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.

There are four main 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? 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. 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: pre-qualify for your loan

This is where Homewithloan.com will start saving you money. You will supply details about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your REALTOR® will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have made 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 online right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to decide on a title company to take care of the funding of your loan. We'll work with this company to make sure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company on your date to close. Because you won't need to coordinate this process, you get to think about the move, painting, new carpet, and all the details of getting a new home.

You've answered some few questions, provided detailed information, applied online, and Before you know it, you'll be moving in! Homewithloan.com is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??

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