About the Mortgage Loan Process

No doubt, quite a lot to do when you get a mortgage loan. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day with a simple application. We do most of 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 home loan involves four major steps.

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? 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. 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 the process really begins and you save the most money. You will provide information about your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. When we review this info we provide a letter of pre-qualification. Handle it with care — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our website. At the end of this step, we'll order an appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll work 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 this company to set your closing date. Because you will not need to worry with this coordination, you get to concentrate on moving, painting, new carpet, and the fun parts of getting a new home.

You've answered a few questions, provided detailed information, applied online, and before you know it, you are deciding when to move in! Pacificwide Lending is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Pacificwide Lending at 9254610500. It's our job to answer lending questions, so we're happy to help!