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

There's no doubt ; getting a mortgage is a complex process. You wouldn't be here on our website if it were possible to complete a one-page loan app and get a great loan funded the same day. But Financial Edge Mortgage Corp. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major steps.

Step one: Decide on your maximum loan amount

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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 step is where Financial Edge Mortgage Corp. will begin saving you money. You will provide info about your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We'll review all this information then will give you a letter of pre-qualification. 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 a new home with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, you should apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. Finally, we will order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to designate a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will require are in order, and you'll probably}likely sign everything at their officeWe coordinate with this company to set your closing date. Since you won't have to coordinate this process, you get to think about moving, paint colors, new carpet, and all the details of getting your new home.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you're moving in! We take care of the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call Financial Edge Mortgage Corp. at 425-508-9988. It's our job to answer lending questions, so we're happy to help!