How the Mortgage Loan Process Works

There's no question ; getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could fill out a simple loan app and receive a great loan check cut 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 main steps involved in getting a 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? 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: pre-qualify for your loan

This is where the process really begins and you save the most money. You will give us info about your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new home, we are looking for the loan that best fits your needs.

Step three: apply for your loan

Once you have made the offer and it's been accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

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 everything at their officeWe do all the work to work with with this company to set your closing date. Since you will not have to coordinate this process, you can think about the move, paint colors, new carpet, and the fun parts of moving into your new house.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! We do the mortgage legwork so you can spend your time finding the new home that's right for you.

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