How the Loan Process Works

No doubt, a lot to do in oder to get a mortgage loan. You wouldn't be here on our site if it were possible to fill out a one-page loan app and receive a great loan funded in one day. 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 home loan involves four major steps.

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? 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 the rubber meets the road and Milestone Mortgage, Inc. NMLS#136714 can really save you money. You will provide details about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission, of course). We'll review all this info and will give you a pre-qualification letter. Handle it with care — it can be a useful tool for buying your new home! Your 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 shopping for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

The agents will find a 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 requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe work with with this company on your date to close. Since you don't need to coordinate this process, you can concentrate on moving logistics, painting, new carpet, and all the details of moving into a new house.

You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving in! We take care of all the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call Milestone Mortgage, Inc. NMLS#136714 at 3175959600. It's our job to answer lending questions, so we're happy to help!