An Overview of the Mortgage Loan Process

There's little question ; getting a mortgage loan is a complex process. You wouldn't be visiting our website if it were possible to fill out a one-page loan app and receive the best loan funded the same day. But 1st Credential Mortgage Inc 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 on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? 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 1st Credential Mortgage Inc can begin saving you money. You will supply details about your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing your information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for the home that's right for you, we are finding the best loan for you.

Step three: apply now! We make it easy

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

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with this company on your date of closing. Because you don't need to worry with this coordination, you can concentrate on moving logistics, if you're going to repaint, carpet, and the fun parts of getting a new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call 1st Credential Mortgage Inc at (281) 778-0805. It's our job to answer lending questions, so we're happy to help!