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

There is no doubt ; getting a mortgage loan is a complex process. You would not be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. But Kelly Mortgage Center does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

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. 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: complete a pre-qualification

This is where the process really begins and Kelly Mortgage Center can really save you money. You will give us information on your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). We'll go over this info and will provide a letter of pre-qualification. Your REALTOR® will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our website. Finally, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to decide on a title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Because you don't need to worry with this coordination, you can think about moving logistics, if you're going to repaint, carpet, and all the details of getting your new home.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! We take care of the loan details so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Kelly Mortgage Center at 949-235-3507. Kelly Mortgage Center answers loan process questions every day.