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The Mortgage Loan Process: an Overview

Shopping for a mortgage loan? We can help! Call us at 757-873-1287. Ready to get started? Apply Online Now.

There is little doubt that getting a mortgage is a complicated process. You would not be researching mortgage loans if you could get a loan in one day by filling out a simple application. 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 loan involves four major steps.

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? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: pre-qualify for your loan

This is where Johnson Mortgage Company LLC can start to save you money. You will provide information about your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualification letter. Be careful with this letter — it can be a useful tool when you make your offer! 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 your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. At the end of this step, we'll order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find a title company to take care of the funding of your loan. We'll work with this company to make sure all the papers your lender requires are available, and you'll probably}likely sign all these papers at their officeWe work with with the title company to set your closing date. Since you won't need to worry with this coordination, you can concentrate on moving logistics, paint colors, carpet, and all the details of moving into a new home.

You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving! We take care of the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call Johnson Mortgage Company LLC at 757-873-1287. It's our job to answer lending questions, so we're happy to help!