The Loan Process: Four Steps
In the market for a new mortgage? We can assist you! Call us at (303) 433-9900. Want to get started? Apply Here.
Make no mistake, there’s a lot to do in order to get a mortgage loan. You wouldn’t be researching mortgage loans if you could get a loan in a single day by filling out a simple application. But Platte River Mortgage & Investments, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: determine how much you can borrow
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? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few 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 Platte River Mortgage & Investments, Inc will start saving you money. You will provide information on your current job, assets, and residence history. You’ll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we’ve reviewed this information, we’ll give you a pre-qualification letter. Your agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you’re shopping for your new home, we are looking for the best loan program for you.
Step three: apply for your loan
Once you have made the offer and it’s been accepted, you should complete the loan application. Applying for your loan couldn’t get much easier; you can apply any time right here on our site. Finally, we will order the appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the sellers will work together to decide on an escrow/title company to handle the funding of your loan. We’ll work with this company to ensure all the papers your lender will need are in order, and you will probably sign everything at this company’s office. We will coordinate with this company on your closing date. Since you don’t have to coordinate this process, you can think about moving, if you’re going to repaint, carpet, and the fun parts of getting a new home.
After you have answered some few questions, given us detailed information, and applied, you’re ready to move in! Platte River Mortgage & Investments, Inc is a mortgage specialist; you’re not — so we do the work. Doesn’t that sound nice?