An Overview of the Loan Process

There's no doubt that getting a mortgage is a complex process. You wouldn't be visiting our site if you could fill out a one-page loan app and receive an excellent loan funded the same day. But 1st Credential Mortgage Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

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: complete a pre-qualification

This step is where 1st Credential Mortgage Inc will begin to save you money. You will provide information about your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a useful tool when you make your offer! Your 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 picking out your new home, we're busy finding the loan that's just right for your situation.

Step three: apply for your loan

After you've signed an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company on your closing date. Because you won't need to worry with this coordination, you can concentrate on the move, painting, carpet, and all the details of getting your new home.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! 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. It's our job to answer lending questions, so we're happy to help!

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.

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