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

There is no question ; getting a mortgage is a complex process. You wouldn't be researching mortgage loans if you could get a loan in a single day by filling out a simple application. 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.

There are four important steps involved in getting a mortgage loan.

Step one: determine how much you can borrow

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. 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 rubber meets the road and you save the most money. You will supply details on your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your closing date. Because you won't need to worry about these details, you can think about the move, painting, new carpet, and all the details of getting your new house.

You've answered some few questions, given us lots of information, applied , and before you know it, you are deciding when to move in! We do the legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call CHASE MORTGAGE, Inc. #317430 at 4357556622. It's our job to answer lending questions, so we're happy to help!