The Loan Process: an Overview

There is little doubt that getting a mortgage loan is a complex process. You would not be researching mortgage loans if you could get a loan in a single 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 primary steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

This is a function of a couple things. 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 Wize Mortgage LLC can start saving you money. You will supply details about your current job, 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 (only after you give your permission, of course). After we've reviewed this information, we'll give you a pre-qualificaiton letter. Handle it with care — it is a useful tool for buying your new home! 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 picking out the home that's right for you, we're busy researching the loan that's just right for your unique situation.

Step three: apply now! We make it easy

After you've made the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

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

You've answered some few questions, provided detailed information, applied , and the next thing you know, you're moving in! Wize Mortgage LLC is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??

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