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

Make no mistake, there's a lot to do when you get a mortgage loan. You wouldn't be here on our website if you could fill out a one-page loan app and receive the best loan funded the same day. But Bright Vision Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major milestones.

Step one: Decide how much you can afford

A couple of factors determine this amount. What kind of monthly payment are you looking for? 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: complete a pre-qualification

This is where Bright Vision Mortgage will begin to save you money. You will give us details on your current job, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! Your agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we're busy finding the loan program that's right for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be 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: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company to set your date to close. Since you will not need to coordinate this process, you get to concentrate on the move, if you're going to repaint, new carpet, and the fun parts of moving into a new home.

You've answered a few questions, provided lots of information, applied online, and the next thing you know, you're moving in! Bright Vision Mortgage is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Bright Vision Mortgage at 9043423622. We answer questions about the loan process every day.

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159 Hampton Point Drive Suite 4
St. Augustine, FL 32092