About the Loan Process

There's little doubt ; getting a mortgage loan is a complicated process. You wouldn't be visiting our site if you could fill out a one-page application and receive a great loan funded the same day. But Pacificwide Lending does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major steps.

Step one: determine how much you can borrow

This is a function of a couple things. 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 Pacificwide Lending will start to save you money. You will give us info about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it is a useful tool for buying your new home! Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we are finding the best loan program for you.

Step three: apply now! We make it easy

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

Step four: your loan is funded

Your REALTOR® and the seller's will work together to designate an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender needs are in order, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company on your date of closing. Because you don't have to worry about these details, you can think about moving logistics, paint colors, carpet, and the details involved in getting a new home.

You've answered a few questions, given us lots of 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 take care of the details. Doesn't that make sense?

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