About the Mortgage Loan Process

No doubt, quite a lot involved in oder to get a mortgage loan. You wouldn't be here on our website if you could fill out a simple loan app and receive a great loan check cut 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.

There are four primary steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

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 abount using the calculators on our website. 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 step is where Savers Home Loans will begin saving you money. You will provide information on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a great tool for buying your new home! Your real estate agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply for your loan

Once you have made the offer and it's been accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate 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 on your date to close. Since you don't need to coordinate this process, you can concentrate on the move, if you're going to repaint, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, provided detailed information, applied , and the next thing you know, you are deciding when to move in! We do the mortgage legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Savers Home Loans at (800) 974-0509. We answer questions about the loan process every day.