How the Mortgage Loan Process Works

There is no doubt ; getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if you could get a loan in one day with a simple application. But MS Investment Mortgage Company 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: Decide how much you can afford

A couple of factors determine this amount. 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 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: complete a pre-qualification

This is where the process really begins and MS Investment Mortgage Company can really save you money. You will supply details about your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission, of course). After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! Your real estate agent should use your 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 house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we'll 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 the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date to close. Since you will not need to worry about these details, you can concentrate on the move, if you're going to repaint, carpet, and all the details of moving into a new home.

You've answered a few questions, given us lots of information, applied , and the next thing you know, you are moving in! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call MS Investment Mortgage Company at (858) 485-5800. It's our job to answer lending questions, so we're happy to help!