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

There's quite a lot to do when you get a mortgage. You wouldn't be here on our site if you could fill out a simple loan app and receive the best loan check cut in one day. But SquareLend does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

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

Step one: Decide how much you can afford

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? 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 rubber meets the road and SquareLend can really save you money. You will provide information on your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. When we review this information we give you a pre-qualification letter. Handle it with care — it can be a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. 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've made an offer and it's been accepted, it's time to complete the loan application. Applying for your loan couldn't get much easier; you can apply any time right here on our site. When the time is right, we'll order the appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll coordinate with this company to make sure the papers your lender requires are available, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your date to close. Since you won't need to worry with this coordination, you can think about moving, painting, carpet, and all the details of getting a new home.

You've answered some few questions, given us detailed information, applied , and before you know it, you're deciding when to move in! We do the mortgage legwork so you can spend your time finding your new home.