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

There's quite a lot involved in oder to get a mortgage. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single day with a simple application. We do 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 loan involves four major milestones.

Step one: determine how much you can borrow

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? Use the calculators on our website to determine your monthly payment amount. 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: complete a pre-qualification

This step is where Capacity Lending, LLC will start to save you money. You will provide information 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 (with your permission, of course). After we've reviewed your information, we'll give you 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 looking for a new home with your REALTOR™, we find the best program for you.

Step three: apply for your loan

After you've made the offer and the sellers accept it, you should apply for the loan. Applying for a loan could not get much easier; you can apply online right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with this company on your closing date. Because you will not need to worry with this coordination, you can think about moving logistics, if you're going to repaint, carpet, and the fun parts of moving into a new house.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! We take care of the mortgage legwork so you can spend your time finding your new home.

Have questions about the loan process? Call Capacity Lending, LLC at 469-640-0400. We answer questions about the loan process every day.

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