How the Mortgage Loan Process Works

There can be little question that getting a mortgage loan is a complex process. You wouldn't be here on our website if it were possible to fill out a simple application and get an excellent loan check cut the same day. But Boardwalk Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

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

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? 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 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: complete a pre-qualification

This step is where Boardwalk Mortgage will start to save you money. You will provide details on your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. When we review this info we provide a pre-qualification letter. Be careful with this letter — it can be a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan. 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 their officeWe do all the work to coordinate with this company to set your date of closing. Since you don't need to worry about these details, you get to concentrate on moving logistics, painting, new carpet, and all the details of 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! We take care of the loan details so you can spend your time finding the new home that's right for you.

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