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How the Mortgage Loan Process Works

There's no question ; getting a mortgage loan 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. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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: pre-qualify for your loan

This step is where Town & Country Home Loans, Inc. will start to save you money. You will give us information on your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. After we have gone over all this information we give you a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! Your agent will likely 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 a new home with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you've made the offer and it's been accepted, you should complete the loan application. Applying for your loan could not 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 the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan once it has been approved. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company on your closing date. Because you won't have to worry with this coordination, you get to concentrate on the move, paint colors, new carpet, and all the details of moving into a new home.

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

Have questions about the loan process? Call Town & Country Home Loans, Inc. at (760)789-9995. Town & Country Home Loans, Inc. answers loan process questions every day.

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