An overview of the loan process - W.J. Bradley Mortgage Capital Corp

An overview of the loan process

Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on my website if you could fill out a one-page application and get the best loan for you funded the same day. What I do is most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity check.

There are four main steps involved in getting a loan. You'll see that I've made your part in them as easy as possible, and I do all the work! That's what I'm here for.

Step one: determine how much you can borrow

This is a function of a couple things. 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? The first part you can get a rough idea of by using the calculators on my website. I'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, I'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on. I get your permission to run your credit score. When I review all this information I give you a Pre-Approval Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your real estate agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, I'm busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on my website. When the time is right, I'll order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's approved. I'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.

You've answered a few questions, given me some detailed information, applied online, and next thing you know, you're moving in! I'm in the business of mortgage loans, you're not -- so we do most of the work. Doesn't that make sense?

In accordance with Section 326 of the USA PATRIOT Act of 2001, PrimeLending is required to obtain a copy of the documents used in identifying our new account customers.
This notice is being provided to you for adequate notice given under this act.

All trademarks, logos, trade names mentioned, used, or displayed on this site are either owned by PrimeLending or otherwise are authorized for our use. You may not display or reproduce them without the prior written consent of PrimeLending. You may not remove, obscure, or otherwise modify any copyright, trademark, confidentiality or other proprietary rights notices displayed on, embedded in, or otherwise appearing in any Content offered by, viewed on, or received through this site.