An Overview of the Mortgage Loan Process

There can be little doubt that getting a mortgage loan is a complicated process. You would not be looking up loan information if it were possible to get a loan in one day by filling out a simple application. 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 steps.

Step one: Decide how much you can afford

This is a function of a couple things. 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? 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. 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: pre-qualify for your loan

This is where the rubber meets the road and Bright Vision Mortgage can really save you money. You will provide information about your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've reviewed this information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a great tool when you make your offer! Your REALTOR® will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we are looking for the loan that best fits your needs.

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 site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at this company's officeWe work with with the title company to set your closing date. Since you will not need to worry with this coordination, you can think about moving logistics, paint colors, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, provided detailed information, applied , and Before you know it, you're moving in! Bright Vision Mortgage is a mortgage specialist; 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 (904) 342-3622. We answer questions about the loan process every day.

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