An Overview of the Mortgage Loan Process
No doubt, quite a lot to do when you get a mortgage. You wouldn't be here on our site if it were possible to fill out a simple application and get an excellent loan funded in one day. But Bright Vision Mortgage 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 loan.
Step one: Decide how much you can afford
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 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: complete a pre-qualification
This is where the process really begins and Bright Vision Mortgage can really save you money. You will provide details about your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. We'll go over all this info and provide a pre-qualification letter. Your real estate agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for a new house with your REALTOR™, we find the best program for you.
Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure all the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe coordinate with this company on your closing date. Since you don't have to coordinate this process, you can concentrate on moving logistics, if you're going to repaint, carpet, and all the details of moving into a new home.
You've answered some few questions, provided lots of information, applied online, and before you know it, you are deciding when to move in! Bright Vision Mortgage is in the business of loans; you're not — so we do the work. 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!