About the Loan Process

There can be little doubt that getting a mortgage loan is a complex process. You wouldn't be here on our website if you could fill out a simple mortgage application and receive a great loan check cut in one 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: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 is where the rubber meets the road and you save the most money. You will provide info about your current job, your assets, and residence history. You'll give us 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 the provided information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we're busy researching the loan that's just right for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company on your closing date. Because you don't need to worry about these details, you can think about moving logistics, painting, new carpet, and the details involved in moving into your new house.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! We do the mortgage legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Equity Edge Mortgage, Inc. at 719-425-2226. It's our job to answer lending questions, so we're happy to help!