How the Mortgage Loan Process Works

There's quite a lot to do in oder to get a mortgage. You wouldn't be visiting our website if you could fill out a simple loan app and receive the best loan check cut the same day. But Nationwide Home Loans 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

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 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 step is where Nationwide Home Loans will begin to save you money. You will provide information on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We will go over all this information then give you a letter of pre-qualification. Your REALTOR® will likely use your 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 shopping for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to complete the loan application. It's very easy, and you can do it online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the 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. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your date to close. Since you will not have to coordinate this process, you can concentrate on the move, paint colors, carpet, and the details involved in getting a new home.

You've answered some few questions, given us detailed information, applied , and the next thing you know, you are deciding when to move in! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call Nationwide Home Loans at 5626935048. Nationwide Home Loans answers loan process questions every day.