An Overview of the Mortgage Loan Process

There's a lot involved in oder to get a mortgage loan. You wouldn't be researching mortgage loans if you could 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.

There are four primary 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? 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. 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: pre-qualify for your loan

This step is where Bright Vision Mortgage will start saving you money. You will give us info on your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. We'll review all this information then provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! 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 now! We make it easy

Once you have made the offer and it's been accepted, you should complete the loan application. Applying for a loan couldn't get much easier; you can apply online right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your date of closing. Because you don't need to worry with this coordination, you get to think about the move, paint colors, new carpet, and all the details of moving into your new home.

You've answered a few questions, given us detailed information, applied online, and the next thing you know, you're moving in! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.

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