The Mortgage Loan Process: an Overview

Shopping for a mortgage? We'd be thrilled to answer your questions about your mortgage needs! Give us a call today at (903) 630-7049. Ready to begin? Apply Online Now.

Make no mistake, there's a lot involved when you get a mortgage loan. You wouldn't be here on our website if it were possible to fill out a simple loan app and get a great loan funded the same day. 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.

Getting a mortgage loan involves four major steps.

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? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment amount 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 is where the rubber meets the road and Tyler Home Mortgage can really save you money. You will give us details on your current job, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we've finished reviewing your information, we'll give you a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a new home with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure all the papers your lender requires are available, and you'll probably}likely sign everything at their officeWe coordinate with the title company on your date of closing. Since you will not need to worry about these details, you get to think about moving logistics, paint colors, carpet, and the details involved in moving into a new house.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving in! Tyler Home Mortgage is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Tyler Home Mortgage at (903) 630-7049. Tyler Home Mortgage answers loan process questions every day.

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