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

There's little doubt ; getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a loan in one day by filling out 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 main steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. 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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 is where the rubber meets the road and you save the most money. You will give us info about your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. When we review all this information we provide a letter of pre-qualification. Handle it with care — it can be a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new home, we are looking for the best loan for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, it's time to complete the loan application. It's very easy, and you can apply online, right here on our website. Finally, we will order an appraisal of your new home.

Step four: funding

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

You've answered a few questions, given us detailed information, applied , and the next thing you know, you are deciding when to move in! We do the legwork so you can focus on finding your new home.

Have questions about the loan process? Call MS Investment Mortgage Company at (858) 485-5800. MS Investment Mortgage Company answers loan process questions every day.