An Overview of the Mortgage Loan Process

No doubt, quite a lot to do in oder to get a mortgage loan. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out a simple application. 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.

Getting a loan involves four major milestones.

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? 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. 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 Ward Kilduff Mortgage will start saving you money. You will supply information about your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we have reviewed this information we will provide a letter of pre-qualification. Be careful with this letter — it is a great tool for buying your new home! 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 the home that's right for you, we're busy finding the loan program that's right for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our site. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you will 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 have to worry about these details, you can think about moving logistics, if you're going to repaint, carpet, and the fun parts of moving into a new home.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! Ward Kilduff Mortgage is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Ward Kilduff Mortgage at (860) 658-7100. We answer questions about the loan process every day.

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