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

	Looking for a loan? We'd be thrilled to discuss your mortgage needs! Give us a call today at 405.463.0097. Ready to get started? Apply Online Now.

Make no mistake, there's a lot to do in order to get a mortgage. You wouldn't be looking up loan information if you could get a mortgage loan in one day with a simple application. 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 main steps involved in getting a 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. 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: complete a pre-qualification

This step is where Dean Slatev will begin saving you money. You will provide info about your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we have gone over this info we give you a letter of pre-qualification. Handle it with care — it is a useful tool for buying your new home! Your agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're deciding on the home that's right for you, we're busy researching the loan program that's right for your situation.

Step three: apply now! We make it easy

After you've made an offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply from the comfort of your home right here on our site. Finally, we will order the appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender will require are available, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with this company on your closing date. Because you don't have to worry with this coordination, you get to think about moving logistics, painting, carpet, and the fun parts of moving into a new house.

You've answered some few questions, given us lots of information, applied , and before you know it, you are moving in! Dean Slatev is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Dean Slatev at 405.463.0097. It's our job to answer lending questions, so we're happy to help!