How the Loan Process Works

Make no mistake, there's a lot involved when you get a mortgage. You wouldn't 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.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? 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 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: pre-qualify for your loan

This is where Howard Financial can begin to save you money. You will provide information on your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We pull your credit score and report. We'll review this info and provide a pre-qualification letter. Your REALTOR® should use your 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 with your agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your closing date. Because you will not need to coordinate this process, you can concentrate on the move, if you're going to repaint, carpet, and the details involved in getting your new home.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving in! Howard Financial is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Howard Financial at (610) 889-7467. It's our job to answer lending questions, so we're happy to help!

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