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Mortgage Process

Mortgage Process

Mortgage Process Fully Explained

How Mortgages get Approved and Rates are Determined

  • Credit
  • Three credit bureaus provide credit scores ranging from 450-850. Investors will use the middle score.

  • Down payments
  • Most down payments range between 0% and 25%. The source of the down payment is important.

  • Other Factors
  • Personal - Income, Debt Ratio, Cash Reserves

  • Property - Primary, Investment, Condo, Single Family

  • Loan Type - Fixed, ARM, Interest Only, Years

    That mortgage process...

    1. Calculate - Develop your own mortgage budget with our calculator tools:

    2. Pre-qualify

      • Receive a tailored list of mortgage program options and current rates
      • I will qualify you at the lowest rate possible

    3. Pre-approval

      • Get pre-approved for a mortgage loan even before you have a property.
      • Once you submit, with your permission, I will run your credit and get back to you either by telephone or e-mail.
      • If you are pre-approved I will notify you. If your realtor needs a pre-approval letter. Notify Me and I will provide one for you

    4. Complete application

      • Simply fill out this online application
      • If you're starting with a property, the application form will ask for personal information and any co-borrowers you may have
      • Once you submit, with your permission, I can run your credit and get back to you either by telephone or e-mail

    5. Sign and return application

      • Once you've made it to this point I can send you a copy of your completed mortgage application. You will be asked to review this, sign it, and return it along with any additional material requested

    6. Appraisal conducted

      • I will schedule an appraisal and contact you once I have the results

    7. Rate lock

      • Before you close you will need to lock-in on the interest rate for your mortgage loan

    8. Closing

      • At closing, you will sign all the legal documents and pay any necessary fees such as closing costs or downpayment
      • You will then be ready to move into your new home!

    9. Mortgage servicing

      • Once you have closed your loan. The lender will send a monthly statement that provides you with payment information on your loan, and your all set! Your mortgage process has been completed


    Anyone looking for speedy home financing can Contact Me with any additional questions.

    Of course, if you are a Real Estate Professional and you would be interested in learning how you can keep more of the profits originating from all your client's home loans, you are more than welcome to Become an Associate of My Team by visiting that page and filling out the form.

    Return Home for more valuable FREE information...!

    In order to find out what your best loan options are, you can start the process by visiting my Loan Helper page and when you submit your contact information in the form on that page, that will let me know you are interested in finding out how I can help you.

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