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

There is no question ; getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if you could get a 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.

Getting a home loan involves four major milestones.

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: complete a pre-qualification

This is where Yamini Patel will begin to save you money. You will supply details about your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we have gone over all this information we give you a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should complete the loan application. Applying for your loan couldn't be much easier; you can apply online right here on our site. Finally, we will order the appraisal of your new home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your date to close. Because you don't have to coordinate this process, you get to concentrate on the move, paint colors, 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! Yamini Patel is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Yamini Patel at (832) 730-2000. We answer questions about the loan process every day.