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

There's little question ; getting a mortgage is a complex process. You wouldn't be looking up loan information if you could get a loan in one 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 primary steps involved in getting a mortgage loan.

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? Use the calculators on our website to determine your monthly payment amount. 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 1st Credential Mortgage Inc can start saving you money. You will provide information about your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. When we review all this info we give you a pre-qualification letter. Be careful with this letter — it is a great tool when you make your offer! Your agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new home, we're busy researching the loan that's just right for your situation.

Step three: apply now! We make it easy

Once you have made the offer and it's been accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. When the time is right, we'll order an appraisal of your new home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your date of closing. Since you won't have to coordinate this process, you get to think about moving logistics, painting, new carpet, and all the details of getting your new house.

You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving in! We take care of the legwork so you can spend your time finding the new home that's right for you.

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!