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

There can be no doubt ; getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in a single day with a simple application. But Mortgage Headquarters of Missouri, Inc 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 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 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. 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 Mortgage Headquarters of Missouri, Inc can begin to save you money. You will supply information about your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission. After we've reviewed your information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it is a useful tool when you make your offer! Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not be much easier; you can apply right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company to set your date of closing. Since you will not have to coordinate this process, you can concentrate on the move, paint colors, carpet, and all the details of getting a new house.

You've answered a few questions, given us lots of information, applied , and the next thing you know, you're deciding when to move in! We take care of the mortgage legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Mortgage Headquarters of Missouri, Inc at 5733029990. We answer questions about the loan process every day.