The Loan Process: an Overview

Looking for a mortgage loan? We'd be thrilled to discuss our many mortgage solutions! Call us at 201-998-9050. Ready to get started? Apply Now.

There's a lot to do when you get a mortgage. You wouldn't be here on our website if it were possible to complete a one-page mortgage application and get an excellent loan funded the same 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.

Getting a home loan involves four major milestones.

Step one: Decide how much you can afford

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? 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 Keypoint Mortgage will start saving you money. You will give us details on your current job, your 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 (only after you give your permission, of course). After we have reviewed this info we will give you a pre-qualification letter. Your agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new home with your REALTOR™, 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, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will work together to designate an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure all the papers your lender will need are available, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date to close. Since you will not have to worry about these details, you get to think about moving logistics, if you're going to repaint, carpet, and the details involved in moving into a new house.

You've answered some few questions, given us detailed information, applied online, and the next thing you know, you're moving in! We do the legwork so you can spend your time finding your new home.

Have questions about the loan process? Call Keypoint Mortgage at 201-998-9050. Keypoint Mortgage answers loan process questions every day.

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