How the Loan Process Works

There is no question that getting a mortgage is a complex process. You would not be researching mortgage loans if it were possible to get a loan in one day by filling out a simple application. But The Reen Team at Direct Mortgage Funding does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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: pre-qualify for your loan

This is where The Reen Team at Direct Mortgage Funding will start to save you money. You will give us details on your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we have reviewed this info we give you a pre-qualification letter. Be careful with this letter — it can be a useful tool for buying your new home! Your REALTOR® should use your 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 shopping for the home that's right for you, we are finding the best loan for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company on your closing date. Since you will not need to worry with this coordination, you can think about the move, if you're going to repaint, carpet, and the details involved in moving into your new house.

You've answered a few questions, given us detailed information, applied , and before you know it, you're moving in! We take care of all the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call The Reen Team at Direct Mortgage Funding at 4086261879. The Reen Team at Direct Mortgage Funding answers loan process questions every day.

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