How the Loan Process Works

There's a lot to do when you get a mortgage. You would not be researching mortgage loans if you could get a loan in one day with 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 main steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? 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: pre-qualify for your loan

This step is where 1st Credential Mortgage Inc will start to save you money. You will provide info on your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your agent should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your agent, we find the best program for you.

Step three: apply for your loan

Once you've made an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our site. After the seller has accepted your offer and you have applied for your loan, 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" and closing of the sale. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with this company on your closing date. Because you don't have to worry about these details, you get to concentrate on moving logistics, painting, carpet, and all the details of moving into your new house.

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

Have questions about the loan process? Call 1st Credential Mortgage Inc at (281) 778-0805. 1st Credential Mortgage Inc answers loan process questions every day.

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

Tell us about your loan needs.
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Tell us about your credit history.