The Loan Mortgage Process: Four Steps

There is no doubt ; getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a mortgage loan in one day with a simple application. But Seattle Mortgage Brokers LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a mortgage 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? You can get a good idea of your preferred payment amount using the calculators on our website. 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 is where the process really begins and Seattle Mortgage Brokers LLC can really save you money. You will provide details on your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. When we review this info we provide a letter of pre-qualification. Your REALTOR® 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 looking for a new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

After you've signed the offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the sellers will work together to find a title company to take care of the funding of your loan once it has been approved. We'll work with this company to ensure all the papers your lender will require are available, and you'll probably sign all these papers at their office. We will coordinate with this company on your date of closing. Since you won't have to coordinate this process, you get to think about moving, painting, new carpet, and the details involved in moving into a new house.

Once you've answered a few questions, given us lots of information, and applied online, you'll be ready to move sooner than you think! Seattle Mortgage Brokers LLC is in the business of mortgage loans; you're not — so let the experts do the work. Doesn't that make sense?