How the Loan Process Works

There is no question that getting a mortgage is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. 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 important steps involved in obtaining a mortgage loan.

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. We'll also help you through different scenarios by asking a few simple questions. 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 the process really begins and 1st Credential Mortgage Inc can really save you money. You will give us details about your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! Your REALTOR® will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! 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

After you've signed the offer and the sellers accept it, 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. Finally, we'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with this company on your date to close. Because you will not have to worry with this coordination, you get to think about the move, paint colors, new carpet, and all the details of moving into a new home.

You've answered some 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 2817780805. We answer questions about the loan process every day.