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

There can be little question ; getting a mortgage is a complex process. You would not be looking up loan information if you could get a mortgage loan in a single day with a simple application. 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 loan involves four major milestones.

Step one: determine how much you can borrow

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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 to save you money. You will give us details about your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on the home that's right for you, we're busy finding the loan program that's right for your situation.

Step three: apply for your loan

After you've made an offer and the sellers accept it, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will work together to decide on an escrow/title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with this company to set your date to close. Since you will not have to coordinate this process, you can think about moving logistics, if you're going to repaint, carpet, and the details involved in moving into your new house.

You've answered a few questions, given us detailed information, applied online, and before you know it, you're moving in! We do the legwork so you can spend your time finding your new home.

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