An Overview of the Loan Process

There's little question ; getting a mortgage is a complex process. You wouldn't be here on our site if you could complete a simple loan app and get an excellent 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.

There are four important steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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 is where Bright Vision Mortgage can begin saving you money. You will supply information on your employment, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. When the time is right, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe coordinate with this company on your closing date. Since you will not need to coordinate this process, you can think about moving logistics, if you're going to repaint, new carpet, and all the details of moving into a new home.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving! Bright Vision Mortgage is a mortgage specialist; 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 9043423622. We answer questions about the loan process every day.