An Overview of the Mortgage Loan Process

There can be no doubt ; getting a mortgage loan is a complicated process. You would not be researching mortgage loans if you could get a loan in a single day by filling out a simple application. But VSI Home Lending does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

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? What is the maximum you can borrow from a lender, given your income and credit history? 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 is where the process really begins and you save the most money. You will supply info about your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We run your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. Handle it with care — it is a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new house with your 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 accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our website. When the time is right, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to designate a title company to handle the funding of your loan once it's approved. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your date to close. Because you don't have to worry with this coordination, you can think about moving, paint colors, new carpet, and the details involved in moving into a new house.

You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving! We do the legwork so you can spend your time finding your new home.

Have questions about the loan process? Call VSI Home Lending at (260) 338-2561. VSI Home Lending answers loan process questions every day.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question