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

There can be little question that getting a mortgage is a complicated process. You wouldn't be here on our site if it were possible to complete a one-page loan app and get the best loan funded 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.

Getting a mortgage loan involves four major steps.

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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: pre-qualify for your loan

This step is where Tier One Mortgage, LLC will start saving you money. You will give us information on your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. Handle it with care — it is a great tool when you make your offer! Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out the home that's right for you, we are finding the best loan program for you.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company on your date to close. Since you won't have to worry with this coordination, you can concentrate on moving logistics, if you're going to repaint, new carpet, and the fun parts of moving into a new house.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you're moving in! We take care of the legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Tier One Mortgage, LLC at 5852820960. Tier One Mortgage, LLC answers loan process questions every day.