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

There's a lot to do when you get a mortgage loan. You wouldn't be visiting our website 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.

There are four main steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? 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. 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 1st Credential Mortgage Inc can start saving you money. You will give us info about your employment, your assets, and your 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 this information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for the home that's right for you, we're busy researching the loan program that's just right for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. When the time is right, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your closing date. Because you will not need to worry with this coordination, you get to think about moving, if you're going to repaint, carpet, and the details involved in moving into a new home.

You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving in! We take care of the mortgage legwork so you can spend your time finding your new home.

Have questions about the loan process? Call 1st Credential Mortgage Inc at 2817780805. It's our job to answer lending questions, so we're happy to help!