The Loan Process: Four Steps

There's no doubt that getting a mortgage is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four primary steps involved in obtaining a loan.

Step one: determine how much you can borrow

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

This is where SouthWind Mortgage, Inc. NMLS #276161 can begin to save you money. You will supply information about your current job, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). We'll go over this information then give you a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! 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 picking out the home that's right for you, we're busy researching the loan program that's just right for your unique situation.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, you should apply for the loan. 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'll order the professional appraisal on the home.

Step four: funding

Your real estate agent and the sellers will work together to decide on a title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to ensure the papers your lender needs are in order, and you'll probably sign all these papers at their office. We will work with the title company to set your closing date. Since you will not have to worry with this coordination, you can think about moving, paint colors, new carpet, and the fun parts of moving into your new house.

Once you've answered some few questions, given us detailed information, and applied, you'll be ready to move sooner than you think! SouthWind Mortgage, Inc. NMLS #276161 is a mortgage specialist; you're not — so let the experts do the work. Makes sense, doesn't it?