How Does The Mortgage Loan Application Process Work?

Loan Officers and Realtors agree that it is best to have prospective homebuyers pre-qualified for a mortgage before they start looking for a home.  This allows the Realtor to focus the home search in the correct price range.  After helping the buyers and sellers negotiate an Accepted Offer to Purchase, the Realtor gives way to the Loan Officer.  The following steps occur in securing a mortgage loan approval for the homebuyers.

Step 1- The Big Decision: 

Buying a home is a big decision since it will probably be the biggest investment you'll make in your lifetime and there is a lot to think about. You want to buy with confidence, enjoy the experience and know that you have made the best decision for you and your family. To begin with, you want to take some time deciding your priorities-what you want, where you want to live and how much you want to spend and fill out a mortgage application online.  

Step 2- The Mortgage Application:

When filling out the mortgage application, you want to make sure that you add your assets and liabilities to the mortgage application.  

Step 3- Pre-Approval:

You will receive your pre-approval in 24HRS easy as steps 1, 2, 3.