The Loan Process: Four Steps

There's little question ; getting a mortgage loan is a complex process. You wouldn't be here on our site if you could fill out a one-page loan application and receive an excellent loan funded in one day. 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.

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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple 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 process really begins and Precision Mortgage, Inc. can really save you money. You will supply details on your current job, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. After we've finished reviewing the provided information, we'll give you a pre-qualification letter. Your real estate agent should use the 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 deciding on your new home, we are researching the best loan program for you.

Step Three: Apply now! We make it easy

It's time to complete the loan application. Applying for a loan could not be much easier; you can apply online right here on our site. 

Step Four: Your loan is funded

Your Realtor® and the sellers will work together to decide on an escrow/title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender requires are in order, and you will probably sign all these papers at their office. We will coordinate with this company to set your closing date. Because you don't have to coordinate this process, you can think about the move, painting, new carpet, and all the details of getting a new house.

Once you've answered a few questions, provided lots of information, and applied, you're ready to move in! We take care of the loan details so you can spend your time finding your new home.