How the Mortgage Loan Process Works

There can be no doubt ; getting a mortgage loan is a complicated process. You wouldn't be visiting our website if it were possible to fill out a simple application and receive the best loan funded in one day. We do most of 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 getting a mortgage loan.

Step one: Decide how much you can afford

This is a function of a couple things. 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? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. 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 Bright Vision Mortgage will start to save you money. You will give us details on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a useful tool when you make your offer! Your real estate agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy researching the loan program that's just right for your situation.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to find an escrow/title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender will need are in order, and you will probably}likely sign all these papers at their officeWe coordinate with this company on your closing date. Because you will not have to worry about these details, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and the fun parts of moving into your new house.

You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving! Bright Vision Mortgage is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Bright Vision Mortgage at 9043423622. Bright Vision Mortgage answers loan process questions every day.