How the Mortgage Loan Process Works

There's quite a lot involved when you get a mortgage. You would not be researching mortgage loans if it were possible to 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 important steps involved in getting a mortgage 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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. 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 step is where Nationwide Home Loans can start to save you money. You will supply info on your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool when you make your offer! Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new house 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 the sellers have accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our site. Finally, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to find a title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need 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 need to worry about these details, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and the details involved in getting your new house.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're moving in! Nationwide Home Loans is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Nationwide Home Loans at 5626935048. It's our job to answer lending questions, so we're happy to help!