The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There's no question ; getting a mortgage is a complex process. You wouldn't be here on our website if you could complete a simple application and receive the best loan funded the same 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.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

This is a function of a couple things. 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. We'll also help you through different scenarios by asking a few simple questions. 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 step is where Bright Vision Mortgage will begin to save you money. You will supply information on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. Your REALTOR® should use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home, we are finding the loan that best fits your needs.

Step three: apply for your loan

Once you have 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 site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the 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 all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your date to close. Because you won't have to worry about these details, you can think about the move, painting, carpet, and the details involved in getting your new home.

You've answered some few questions, given us lots of information, applied , and before you know it, you're deciding when to move in! Bright Vision Mortgage is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Bright Vision Mortgage at (904) 342-3622. Bright Vision Mortgage answers loan process questions every day.

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