The Mortgage Loan Process: an Overview

	Searching for a mortgage loan? We can assist you! Give us a call today at 7045420820. Want to get started? Apply Online Now.

There is little question that getting a mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to complete a simple loan app and get the best loan funded in one day. But M.P.S. Mortgage Company does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage 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? 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. We'll also help you through different scenarios by asking a few simple questions. 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 process really begins and you save the most money. You will give us info on your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission, of course). When we review this info we will provide a letter of pre-qualification. Be careful with this letter — it is a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our website. 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

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company on your closing date. Since you won't need to worry with this coordination, you can concentrate on moving, paint colors, new carpet, and the details involved in getting a new home.

You've answered a few questions, given us lots of information, applied online, and before you know it, you're moving in! M.P.S. Mortgage Company is a mortgage specialist; you're not — so we do the work. Doesn't that sound nice?

Have questions about the loan process? Call M.P.S. Mortgage Company at 7045420820. M.P.S. Mortgage Company answers loan process questions every day.