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

There's quite a lot to do in oder to get a mortgage. You wouldn't be here on our website if you could fill out a simple application and receive an excellent loan funded the same 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.

There are four important steps involved in getting a mortgage loan.

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. We'll also help you through different scenarios by asking a few simple questions. 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: complete a pre-qualification

This step is where Milestone Mortgage, Inc. NMLS#136714 will begin to save you money. You will give us info on your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We will go over all this information and will provide a pre-qualification letter. Be careful with this letter — it can be a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a new house with your agent, we find the best program for you.

Step three: apply for your loan

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

Step four: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with this company to set your closing date. Since you won't need to worry about these details, you can concentrate on moving logistics, painting, new carpet, and the details involved in moving into a new house.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! Milestone Mortgage, Inc. NMLS#136714 is in the business of loans; you're not — so take care of the details. Doesn't that sound nice?

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!

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Milestone Mortgage, Inc. NMLS#136714

7168 Graham Road Suite 175
Indianapolis, IN 46250-2683