The Mortgage Loan Process: an Overview

Make no mistake, there's quite a lot to do in oder to get a mortgage. You would not be researching mortgage loans if it were possible to get a mortgage 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 mortgage loan involves four major steps.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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? 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 Metrolink Mortgage can begin saving you money. You will provide info about your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

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

Step four: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company to set your date to close. Since you will not have to worry about these details, you can think about moving logistics, if you're going to repaint, carpet, and the fun parts of getting a new home.

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

Have questions about the loan process? Call Metrolink Mortgage at 303-523-7119. We answer questions about the loan process every day.