About the Loan Process

There is little question that getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a mortgage loan in a single day with a simple application. But Metro Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major steps.

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? 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. 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 rubber meets the road and you save the most money. You will supply details on your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. We'll go over this information and provide a letter of pre-qualification. Your real estate agent 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 deciding on your new home, we are finding the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your closing date. Since you will not need to worry with this coordination, you get to concentrate on moving logistics, if you're going to repaint, carpet, and the details involved in getting your new house.

You've answered a few questions, given us detailed information, applied , and before you know it, you are deciding when to move in! We take care of all 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 Metro Mortgage at 866-300-1550. It's our job to answer lending questions, so we're happy to help!