About the Mortgage Loan Process
Looking for mortgage advice? We'll be glad to talk about our many mortgage solutions! Give us a call at 4109134726. Ready to get started? Apply Here
There can be little doubt that getting a mortgage is a complex process. You would not be researching mortgage loans if it were possible to get a 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.
Getting a home loan involves four major steps.
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? What is the maximum you can borrow from a lender, given your income and credit history? 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 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 is where the rubber meets the road and Fidelity Direct Mortgage can really save you money. You will give us information on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed the provided information, we'll provide you with a pre-qualification letter. Handle it with care — it can be a useful tool when you make your offer! Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
Once you have made the 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 our website. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will need are in order, and you'll likely sign everything at this company's office. We will coordinate with the title company on your closing date. Since you will not need to worry about these details, you can think about moving logistics, painting, carpet, and the details involved in getting a new house.
Once you've answered a few questions, given us lots of information, and applied online, you'll be ready to move sooner than you think! We take care of the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call Fidelity Direct Mortgage at 4109134726. Fidelity Direct Mortgage answers loan process questions every day.