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

	In the market for a mortgage loan? We will be glad to help! Call us at (610) 296-3600. Ready to get started? Apply Online Now.

There can be little doubt ; getting a mortgage loan is a complex process. You wouldn't be looking up loan information if you could get a mortgage loan in one 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.

There are four primary steps involved in obtaining 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? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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: pre-qualify for your loan

This step is where Main Line National Mtg Inc will begin saving you money. You will supply details about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualification letter. Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out your new home, we are looking for the best loan for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers accept it, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply online right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

The real estate 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 all the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe 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, if you're going to repaint, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, provided lots of information, applied , and the next thing you know, you are deciding when to move in! We do the legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Main Line National Mtg Inc at (610) 296-3600. We answer questions about the loan process every day.