The Loan Process: an Overview

Make no mistake, there's quite a lot involved in oder to get a mortgage. You wouldn't be here on our site if it were possible to complete a one-page application and get a great 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.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 you save the most money. You will supply information on your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We run your credit score and report. We'll review this information then give you a pre-qualification letter. 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 looking for a new house with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made an offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply any time right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to decide on a title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company to set your date to close. Because you won't need to coordinate this process, you get to think about moving, painting, carpet, and the details involved in moving into your new home.

You've answered a few questions, provided lots of information, applied online, and the next thing you know, you're deciding when to move in! We take care of all the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Middleton Website Test Services at 4058873713. It's our job to answer lending questions, so we're happy to help!

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3121 Quail Springs Pkwy #140
Oklahoma City, OK 73134