How the Mortgage Loan Process Works

There's a lot to do in oder to get a mortgage. You wouldn't be visiting our site if it were possible to fill out a simple loan app and get the best loan funded in one day. We do most of 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 home loan involves four major steps.

Step one: Decide how much you can afford

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. We'll also help you through different scenarios by asking a few simple 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: pre-qualify for your loan

This is where the process really begins and Not Your Average Lender can really save you money. You will give us information on your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. We will go over all this information and will give you a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe work with with this company on your date of closing. Because you will not need to coordinate this process, you can concentrate on moving, if you're going to repaint, carpet, and the fun parts of moving into your new house.

You've answered some few questions, given us detailed information, applied , and before you know it, you are moving in! Not Your Average Lender is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

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