How the Mortgage Loan Process Works

There is no question that getting a mortgage is a complex process. You wouldn't be researching mortgage loans if you could get a loan in one 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 loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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? Use the calculators on our website to determine your monthly payment amount. 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 the process really begins and you save the most money. You will provide details about your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it is a useful tool when you make your offer! Your agent will use the 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 looking for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, it's time to complete the loan application. Applying for a loan couldn't get much easier; you can apply any time right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will require are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your date of closing. Because you don't need to worry with this coordination, you get to think about the move, paint colors, new carpet, and the fun parts of getting a new home.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving in! Mortgage Headquarters of Missouri, Inc is in the business of mortgage loans; you're not — so we take care of the details. Makes sense, doesn't it??

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