About the Mortgage Loan Process

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There can be no question that getting a mortgage is a complicated process. You wouldn't be looking up loan information if you could get a loan in a single day with a simple application. But Paul M. Johnson - Mortgage Banker does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: determine how much you can borrow

This is a function of a couple things. 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 amount 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 you save the most money. You will give us details on your current job, your 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've reviewed your information, we'll provide a pre-qualification letter. Handle it with care — it is a great tool when you make your offer! Your real estate agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new house with your real estate agent, we find the best program for you.

Step three: apply for your loan

Once you've made the offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our website. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your date to close. Because you don't have to worry about these details, you can concentrate on moving logistics, paint colors, carpet, and all the details of moving into a new home.

You've answered a few questions, provided detailed information, applied , and Before you know it, you'll be moving! Paul M. Johnson - Mortgage Banker is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Paul M. Johnson - Mortgage Banker at 512-326-2186. Paul M. Johnson - Mortgage Banker answers loan process questions every day.