The Mortgage Loan Process: an Overview

There's quite a lot involved in oder to get a mortgage. You wouldn't be here on our website if you could fill out a one-page mortgage application and get a great loan funded in one day. But Brimor National Mortgage 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 loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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. 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 step is where Brimor National Mortgage can start saving you money. You will supply info on your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we've finished reviewing this information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it can be a useful tool when you make your offer! Your agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your REALTOR™, we find the best program for you.

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. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe work with with the title company to set your date to close. Since you will not have to worry with this coordination, you can concentrate on moving logistics, painting, new carpet, and the details involved in moving into your new house.

You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving! Brimor National Mortgage is in the business of loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Brimor National Mortgage at 949-544-4908. It's our job to answer lending questions, so we're happy to help!

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