The Four Steps of the Loan Process

Are you looking for a mortgage? We can help! Call us at 801.999.0493. Ready to get started? Apply Here.

There can be little question ; getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a mortgage loan in a single day with a simple application. But Laser Lending does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. How much of a monthly payment can you afford? 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: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide information about your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we have gone over all this information we give you a letter of pre-qualification. 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 picking out the home that's right for you, we're busy finding the loan program that's just right for your situation.

Step three: apply for your loan

Once you have made the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not get much easier; you can apply any time right here on our site. When the time is right, we'll order the appraisal of your new home.

Step four: funding

Your REALTOR® and the sellers will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender needs are available, and you will probably sign everything at this company's office. We will coordinate with the title company to set your date to close. Since you don't need to worry about these details, you can think about moving, painting, new carpet, and all the details of getting a new home.

Once you've answered some few questions, given us lots of information, and applied online, you're ready to move in! We take care of the loan details so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Laser Lending at 801.999.0493. We answer questions about the loan process every day.

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