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

	Shopping for a mortgage? We will be glad to help! Give us a call today at 2817780805. Ready to get started? Apply Now.

No doubt, a lot involved in order to get a mortgage. You would not be researching mortgage loans if you could get a loan in a single day by filling out 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 mortgage 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? You can get a good idea of your preferred payment amount 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: complete a pre-qualification

This is where the rubber meets the road and 1ST CREDENTIAL MORTGAGE INC can really save you money. You will provide info on your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. We will review this information then give you a letter of pre-qualification. Be careful with this letter — it is a useful tool for buying your new home! Your real estate 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 deciding on the home that's right for you, we are researching the loan that best fits your needs.

Step three: apply for your loan

Once you have made the offer and it's been accepted, it's time to complete the loan application. 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'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to find a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need are available, and you'll probably}likely sign all these papers at their officeWe coordinate with this company on your closing date. Since you don't have to worry with this coordination, you can concentrate on the move, paint colors, new carpet, and all the details of getting your new house.

You've answered some few questions, provided detailed information, applied online, and before you know it, you are moving in! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call 1ST CREDENTIAL MORTGAGE INC at 2817780805. We answer questions about the loan process every day.