The Mortgage Loan Process: an Overview

There's no question ; getting a mortgage loan is a complicated process. You would not be researching mortgage loans if it were possible to 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.

There are four primary steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

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. 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: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will give us information on your employment, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. We'll review this information then provide a letter of pre-qualification. Handle it with care — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we will order an appraisal of your new home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender requires are in order, and you will probably}likely sign all these papers at their officeWe coordinate with the title company to set your closing date. Since you will not have to worry with this coordination, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and all the details of moving into your new home.

You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving in! Mortgage Headquarters of Missouri, Inc is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that make sense?

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