About the Loan Process

There's no question that getting a mortgage loan is a complex process. You would not be looking up loan information if it were possible to get a mortgage loan in a single day with a simple application. But Howard Financial does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. What kind of monthly payment are you looking for? 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 abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: complete a pre-qualification

This is where the process really begins and you save the most money. You will supply info about your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing your information, we'll give you a pre-qualificaiton letter. Handle it with care — it is 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 looking for your new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company on your date to close. Because you won't have to coordinate this process, you can concentrate on the move, if you're going to repaint, new carpet, and the fun parts of moving into your new home.

You've answered a few questions, provided lots of information, applied online, and before you know it, you are deciding when to move in! Howard Financial is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Howard Financial at (610) 889-7467. Howard Financial answers loan process questions every day.

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