How the Mortgage Loan Process Works

There's little question ; getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could complete a one-page mortgage application and receive the best loan funded the same day. But James M. Dix 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

A couple of factors determine this amount. 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 quewstions. 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: complete a pre-qualification

This step is where James M. Dix can begin saving you money. You will supply details on your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we have gone over all this info we give you a pre-qualification letter. Handle it with care — it is a great tool when you make your offer! Your agent should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we're busy finding the loan that's just right for your unique situation.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, 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 a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company to set your closing date. Since you will not have to worry with this coordination, you can concentrate on moving, paint colors, carpet, and the details involved in moving into your new house.

You've answered a few questions, given us detailed information, applied , and before you know it, you're deciding when to move in! We take care of the legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call James M. Dix at 3172889434. It's our job to answer lending questions, so we're happy to help!