An Overview of the Mortgage Loan Process

There's quite a lot involved in oder to get a mortgage loan. You wouldn't be here on our site if it were possible to complete a simple application and get the best loan check cut 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.

Getting a mortgage loan involves four major steps.

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? Use the calculators on our website to determine your monthly payment amount. 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 can begin saving you money. You will supply details about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we have reviewed this info we provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our website. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan once it's approved. We'll work with this company to ensure all the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe coordinate with this company on your date of closing. Because you won't have to worry with this coordination, you get to concentrate on moving logistics, painting, carpet, and the details involved in getting a new home.

You've answered some few questions, given us detailed information, applied online, and the next thing you know, you're deciding when to move in! Bright Vision Mortgage is in the business of loans; you're not — so we take care of the details. Doesn't that make sense?

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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2800 North Fifth Street Suite 301B
St. Augustine, FL 32084