The Loan Process: Four Steps

Make no mistake, 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 loan app and get the best loan check cut in one day. But Metro Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major milestones.

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. 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: complete a pre-qualification

This is where the rubber meets the road and Metro Mortgage can really save you money. You will provide information about your current job, your 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. When we review all this info we will provide a letter of pre-qualification. Your REALTOR® 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 picking out the home that's right for you, we are researching the best loan program for you.

Step three: apply for your loan

Once you have signed the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. 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: funding

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender needs are available, and you'll probably sign everything at this company's office. We will work with this company to set your date to close. Because you don't have to worry about these details, you can concentrate on moving, painting, carpet, and all the details of getting a new home.

After you have answered a few questions, given us lots of information, and applied, you'll be moving in before you know it! We take care of the loan details so you can spend your time finding the new home that's right for you.