The Mortgage Loan Process: an Overview

	In the market for a mortgage? We can help! Call us at (926) 228-1944. Ready to get started? Apply Here.

There's quite a lot to do when you get a mortgage. You would not be researching mortgage loans if it were possible to get a loan in one day with a simple application. 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 loan.

Step one: Decide on your maximum loan amount

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? You can get a good idea of your preferred payment amount using the calculators on our website. 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 step is where Premier Nationwide Lending will start saving you money. You will provide information on your current job, assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). We'll review all this information and will provide a pre-qualification letter. Your real estate agent 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 shopping for your new home, we're busy researching the loan that's right for you.

Step three: apply for your loan

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

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to find an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your closing date. Because you will not have to worry about these details, you get to concentrate on moving logistics, paint colors, new carpet, and the details involved in getting a new home.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! Premier Nationwide Lending is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call Premier Nationwide Lending at (926) 228-1944. It's our job to answer lending questions, so we're happy to help!