The Mortgage Loan Process: an Overview

	In the market for a mortgage? We'll be glad to answer your questions about our many mortgage solutions! Give us a call today at 2817646553. Want to get started? Apply Online Now.

No doubt, quite a lot involved when you get a mortgage loan. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out 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.

Getting a loan involves four major steps.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? 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 abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: pre-qualify for your loan

This step is where Crescent Mortgage will begin saving you money. You will give us information about your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've reviewed this information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a great tool when you make your offer! Your agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: your loan is funded

The real estate agents will find an escrow/title company to handle the "funding" and closing. We'll coordinate with this company to make sure the papers your lender will require are in order, and you will probably}likely sign all these papers at their officeWe work with with this company to set your closing date. Since you don't need to worry with this coordination, you get to think about moving, if you're going to repaint, new carpet, and the fun parts of moving into your new home.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! Crescent Mortgage is in the business of loans; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Crescent Mortgage at 2817646553. We answer questions about the loan process every day.