How the Loan Process Works

No doubt, a lot to do when you get a mortgage loan. You would not be researching mortgage loans if you could get a loan in a single day with a simple application. But Bright Vision Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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 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. 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: pre-qualify for your loan

This is where the process really begins and you save the most money. You will supply info on your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Your agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for a new home with your REALTOR™, we find the best program for you.

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. It's very easy, and you can do it online, right here on our website. When the time is right, we'll order an appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will work together to find a title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company to set your date to close. Since you don't have to worry with this coordination, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and all the details of getting your new home.

You've answered some few questions, given us detailed information, applied online, and before you know it, you are moving in! Bright Vision Mortgage is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Bright Vision Mortgage at (904) 342-3622. It's our job to answer lending questions, so we're happy to help!

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