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

Make no mistake, there's quite a lot involved in oder to get a mortgage. You wouldn't be visiting our site if it were possible to complete a one-page application and receive the best loan funded 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.

Getting a loan involves four major steps.

Step one: Decide on your maximum loan amount

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: complete a pre-qualification

This is where the rubber meets the road and Not Your Average Lender can really save you money. You will provide details on your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we have gone over all this information we will give you a pre-qualification letter. Handle it with care — it can be 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 shopping for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have applied for your loan, 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 find an escrow/title company to handle the funding of your loan. We'll coordinate 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 their officeWe coordinate with the title company on your date to close. Since you won't have to worry about these details, you can concentrate on moving, painting, new carpet, and the fun parts of getting your new home.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you are deciding when to move in! We do the mortgage legwork so you can focus on finding your new home.

Have questions about the loan process? Call Not Your Average Lender at 9722039033. Not Your Average Lender answers loan process questions every day.