About the Mortgage Loan Process

Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be here on our website if you could complete a simple mortgage application and get the best loan funded the same day. But Pacificwide Lending does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting a loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. 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: 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 supply your employment, asset, and residence history information. We run your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are looking for the best loan program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, it's time to complete the loan application. Applying for a loan could not be much easier; you can apply right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Since you will not have to worry about these details, you get to think about the move, painting, new carpet, and the details involved in getting your new house.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! Pacificwide Lending is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Pacificwide Lending at 9254610500. Pacificwide Lending answers loan process questions every day.