How the Mortgage Loan Process Works
In the market for a new mortgage loan? We can help! Call us at (504) 212-0704. Want to get started? Apply Online Now
There can be little doubt that getting a mortgage is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out 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.
There are four primary 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? 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 amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This is where the process really begins and Premier Lending, LLC can really save you money. You will give us details about your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. We will review all this information then give you a letter of pre-qualification. Be careful with this letter — it can be a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for 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
Once you have made an offer and it's been accepted, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we will order an appraisal of your new home.
Step four: your loan is funded
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 ensure all the papers your lender will need are available, and you will likely sign everything at their office. We coordinate with this company to set your closing date. Since you will not have to worry about these details, you can concentrate on moving, paint colors, new carpet, and the fun parts of getting a new home.
You've answered a few questions, given us detailed information, applied , and before you know it, you are moving in! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Premier Lending, LLC at (504) 212-0704. Premier Lending, LLC answers loan process questions every day.