The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There's little question that getting a mortgage loan is a complicated process. You would not be looking up loan information if it were possible to get a mortgage loan in one day by filling out a simple application. But Columbia Mortgage Corp does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major steps.

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. 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 step is where Columbia Mortgage Corp can start to save you money. You will give us info about your current job, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. We'll review this information and will give you a pre-qualification letter. Your REALTOR® will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will coordinate to find an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company on your closing date. Because you don't have to worry with this coordination, you get to think about moving, if you're going to repaint, carpet, and the fun parts of moving into a new home.

You've answered a few questions, given us detailed information, applied , and Before you know it, you'll be moving! Columbia Mortgage Corp 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 Columbia Mortgage Corp at 8037793638. It's our job to answer lending questions, so we're happy to help!