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

There's little doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our site if you could complete a simple loan app and get a great loan funded the same day. But Wize Mortgage LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting 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? 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: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You will give us information about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we have reviewed all this info we will provide a pre-qualification letter. Your agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new house with your real estate 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 apply for the loan. It's very easy, and you can apply online, right here on our website. When the time is right, we'll order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to find a title company to take care of the funding of your loan once it has been approved. We'll work with this company to ensure the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe work with with the title company on your date to close. Since you won't have to worry about these details, you get to think about moving, paint colors, new carpet, and all the details of getting your new house.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Wize Mortgage LLC at . We answer questions about the loan process every day.