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

In the market for a mortgage loan? We'd be thrilled to talk about your mortgage needs! Give us a call today at (949) 837-1559. Want to get started? Apply Here.

There is no doubt that getting a mortgage is a complicated process. You would not be looking up loan information if you could get a mortgage loan in a single day by filling out a simple application. But Mortgage Team America does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in obtaining a loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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. 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: complete a pre-qualification

This is where the process really begins and you save the most money. You will supply info about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualification letter. Your agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender needs are available, and you will probably}likely sign everything at their officeWe do all the work to work with with this company on your date to close. Since you don't need to coordinate this process, you get to concentrate on moving, painting, carpet, and the fun parts of getting your new house.

You've answered a few questions, provided lots of information, applied , and Before you know it, you'll be moving in! Mortgage Team America is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Mortgage Team America at (949) 837-1559. We answer questions about the loan process every day.