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

There can be no question that getting a mortgage is a complicated process. You wouldn't be here on our site if you could complete a simple loan app and get a great loan check cut in one day. But Stepping Stone Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major milestones.

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: complete a pre-qualification

This step is where Stepping Stone Mortgage can start to save you money. You will provide info about your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we have reviewed all this information we will give you a letter of pre-qualification. 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 the home that's right for you, we are researching the loan that best fits your needs.

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 apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your date to close. Because you won't need to worry with this coordination, you can concentrate on the move, if you're going to repaint, carpet, and the fun parts of getting your new house.

You've answered some few questions, provided detailed information, applied online, and before you know it, you are moving in! We take care of all the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call Stepping Stone Mortgage at (541) 683-3300. Stepping Stone Mortgage answers loan process questions every day.

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