Advisa Mortgage - The Loan Process

The Loan Process

At Advisa Mortgage we take the mystery out of the home loan process by doing most of the "heavy lifting" for you, so you can concentrate on what's important – preparing to move into your new home.

There are four main steps involved in getting a loan. We'll help you through the steps of our streamlined process to make it as easy as possible for you. That's what we're here for.

Step 1: Determine how much you can borrow

How much of a monthly payment can you afford? And considering your unique credit and employment history, income and debt, how much will a lender loan you? You can get a rough idea of how much of a monthly payment you can afford by using the calculators on our Web site. We'll also help you through different scenarios by asking a few simple questions. Based on standard lending guidelines, we'll have a good idea of what kind of terms and loan program you can expect to benefit from the most.

Step 2: Pre-qualification and pre-approval

You supply information about your employment, your assets, your residence history, and so on. When we review all this information we give you a pre-qualification letter.

If you'd like a pre-approval, we'll ask your permission to obtain a full credit report. If you qualify, we'll give you a pre-approval letter. Handle it with care – to a home seller, it's like a suitcase full of cash! Your real estate agent will use your pre-approval letter to make the best offer on the home you choose. Since the seller knows you're pre-qualified, you have serious negotiating power. And while you're picking out the home the perfect home, we're busy finding the loan that's just right for you.

Note: Pre-approval valid upon property appraisal.

Step 3: Apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at our Web site.

When the time is right, we'll order an appraisal of your new home.

Step 4: Your loan is funded

Your real estate agent and the seller's agent will work with you to designate an escrow/title company to handle the funding of your loan after approval. We'll coordinate with the escrow company to make sure all the papers your lender requires are in order, and you'll sign everything at the escrow/title company's office.

You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in!

Turning customers into homeowners – it's what Advisa Mortgage is all about!