An Overview of the Mortgage Loan Process

Make no mistake, there's a lot involved when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a 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.

There are four important steps involved in getting a mortgage 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? 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 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 is where Mortgage Headquarters of Missouri, Inc can start to save you money. You will supply details on your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. We will go over all this information and will give you a pre-qualification letter. Be careful with this letter — it can be a useful 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. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are looking for the best loan for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender requires are available, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with the title company to set your closing date. Because you will not need to coordinate this process, you get to think about moving logistics, if you're going to repaint, carpet, and the fun parts of getting your new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you'll be moving! We take care of the mortgage legwork so you can spend your time finding the new home that's right for you.