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

No doubt, quite a lot to do in oder to get a mortgage loan. You wouldn't be visiting our website if you could fill out a simple application and get a great loan funded the same day. 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 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? 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. 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 the process really begins and you save the most money. You will provide information on your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). We will review this info then give you a pre-qualification letter. 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 shopping for your new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can do it online, right here on our website. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your closing date. Since you don't need to worry about these details, you can concentrate on moving, paint colors, new carpet, and all the details of getting your new house.

You've answered a few questions, provided lots of information, applied online, and before you know it, you're moving in! Metro Mortgage is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Metro Mortgage at 866-300-1550. Metro Mortgage answers loan process questions every day.