The Mortgage Loan Process: an Overview

Shopping for a mortgage loan? We'd be thrilled to talk about our many mortgage solutions! Give us a call today at (509) 892-9014. Ready to begin? Apply Here.

There's little doubt that getting a mortgage is a complex process. You wouldn't be looking up loan information if it were possible to get a loan in one day by filling out a simple application. But Felge International, Inc., Dba -The Mortgage Warehouse - NMLS3185 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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. 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: pre-qualify for your loan

This step is where Felge International, Inc., Dba -The Mortgage Warehouse - NMLS3185 will begin saving you money. You will supply details on your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we've reviewed the provided information, we'll give you a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new home with your 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 accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender requires are in order, and you will probably}likely sign everything at their officeWe coordinate with the title company to set your closing date. Since you don't have to coordinate this process, you get to think about the move, if you're going to repaint, new carpet, and the fun parts of getting a new house.

You've answered a few questions, given us detailed information, applied online, and before you know it, you're deciding when to move in! Felge International, Inc., Dba -The Mortgage Warehouse - NMLS3185 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 Felge International, Inc., Dba -The Mortgage Warehouse - NMLS3185 at (509) 892-9014. It's our job to answer lending questions, so we're happy to help!