How the Mortgage Loan Process Works

There's a lot involved when you get a mortgage. You wouldn't be visiting our website if you could fill out a one-page loan app and get a great loan check cut the same day. 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.

There are four important steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 Columbia Mortgage Corp can really save you money. You will supply details on your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. We'll go over all this info then provide a letter of pre-qualification. Your REALTOR® will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy finding the loan that's just right for your unique situation.

Step three: apply now! We make it easy

After you've made the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our website. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender will require are in order, and you'll probably}likely sign everything at their officeWe coordinate with the title company on your date of closing. Because you don't have to coordinate this process, you get to think about moving, paint colors, carpet, and the fun parts of getting your new house.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving in! Columbia Mortgage Corp is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Columbia Mortgage Corp at 8037793638. Columbia Mortgage Corp answers loan process questions every day.