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

There's quite a lot involved when you get a mortgage loan. You wouldn't be here on our site if it were possible to fill out a simple loan application and receive an excellent loan check cut the same day. 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 important steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

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: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide info on your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. We will go over this information then will give you a letter of pre-qualification. Handle it with care — it is a great tool for buying your new home! Your real estate agent will likely 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 a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers accept it, you should apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home 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 real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your date to close. Since you won't need to worry about these details, you get to think about moving logistics, if you're going to repaint, new carpet, and the fun parts of moving into your new home.

You've answered a few questions, provided lots of information, applied , and Before you know it, you'll be moving! VSI Home Lending is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call VSI Home Lending at 2603382561. It's our job to answer lending questions, so we're happy to help!