The Four Steps of the Loan Process

There's little question that getting a mortgage loan is a complicated process. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day with a simple application. But Professional Mortgage Processing does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: determine how much you can borrow

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. 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: complete a pre-qualification

This is where Professional Mortgage Processing will begin to save you money. You will provide details about your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we've reviewed your information, we'll provide you with a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! 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 picking out your new home, we are researching the best loan for you.

Step three: apply for your loan

Once you have made an offer and the sellers have accepted, 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. After the seller has accepted your offer and you have submitted your loan application, 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 of the sale. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you will likely sign all these papers at their office. We will coordinate with this company on your date to close. Because you will not have to worry about these details, you can think about moving, paint colors, new carpet, and the fun parts of getting a new house.

After you have answered a few questions, provided lots of information, and applied online, you'll be moving in before you know it! We take care of the loan details so you can spend your time finding the new home that's right for you.