How the Loan Process Works

Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be visiting our website if you could complete a one-page loan app and get a great loan funded the same day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

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

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? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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 rubber meets the road and you save the most money. You will give us information on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new home with your 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 apply for the loan. It's very easy, and you can do it online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with this company to set your date to close. Because you won't have to coordinate this process, you get to concentrate on the move, paint colors, new carpet, and the details involved in getting your new house.

You've answered a few questions, given us lots of information, applied , and before you know it, you are deciding when to move in! Boardwalk Mortgage is in the business of mortgage loans; you're not — so we do the work. Doesn't that sound nice?

Have questions about the loan process? Call Boardwalk Mortgage at 1-800-606-2794. Boardwalk Mortgage answers loan process questions every day.