An Overview of the Mortgage Loan Process

Make no mistake, there's quite a lot involved when you get a mortgage. You wouldn't be here on our site if you could fill out a one-page loan app and get an excellent loan funded in one day. 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 important steps involved in obtaining a loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 Southwest Funding #841
Company NMLS # 303440 will start saving you money. You will supply details about your employment, assets, and 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, of course). After we have gone over all this information we provide a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on a title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at their officeWe work with with this company on your date of closing. Since you don't have to worry with this coordination, you get to think about moving logistics, if you're going to repaint, new carpet, and all the details of moving into a new home.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! Southwest Funding #841
Company NMLS # 303440 is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Southwest Funding #841
Company NMLS # 303440 at 5122916100. It's our job to answer lending questions, so we're happy to help!