The Loan Process: an Overview

	Are you looking for a mortgage? We can help! Give us a call at (214) 383-9400. Ready to get started? Apply Online Now.

There's quite a lot involved in oder to get a mortgage. You wouldn't be here on our site if it were possible to fill out a simple loan application and receive an excellent loan check cut the same day. But Mortgage X Change does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

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 quewstions. 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 Mortgage X Change will start saving you money. You will provide details about your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. We will go over this information then provide a pre-qualification letter. Your agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for your new house 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 apply for the loan. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to find a title company to take care of the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with this company on your closing date. Because you will not need to coordinate this process, you get to think about moving, if you're going to repaint, carpet, and all the details of getting your new house.

You've answered some few questions, given us detailed information, applied online, and the next thing you know, you're moving in! Mortgage X Change is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Mortgage X Change at (214) 383-9400. It's our job to answer lending questions, so we're happy to help!