How the Loan Process Works

There can be no doubt ; getting a mortgage is a complicated process. You wouldn't be here on our website if it were possible to fill out a simple loan app and get an excellent loan check cut the same day. 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.

Getting a home loan involves four major milestones.

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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 rubber meets the road and you save the most money. You will give us details on your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for the home that's right for you, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will work together to decide on a title company to take care of the funding of your loan once it has been approved. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with this company to set your date of closing. Because you don't need to worry about these details, you can think about the move, if you're going to repaint, new carpet, and all the details of moving into a new home.

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

Have questions about the loan process? Call Moneywise Lending at 2813708282. We answer questions about the loan process every day.