The Loan Process: an Overview

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There's no doubt that getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. But Fusion Mortgage Lending 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. We'll also help you through different scenarios by asking a few simple questions. 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: pre-qualify for your loan

This is where the rubber meets the road and Fusion Mortgage Lending can really save you money. You will supply info about your current job, your 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). We will review this info then provide a pre-qualification letter. Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our website. Finally, we'll order an appraisal of your new home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign everything at their officeWe coordinate with the title company to set your closing date. Since you won't have to coordinate this process, you get to think about the move, painting, new carpet, and the fun parts of moving into a new home.

You've answered a few questions, provided detailed information, applied online, and before you know it, you're moving in! We do the legwork so you can focus on finding your new home.

Have questions about the loan process? Call Fusion Mortgage Lending at (909) 484-3404. We answer questions about the loan process every day.