How the Mortgage Loan Process Works

There's no doubt ; getting a mortgage loan is a complicated process. You wouldn't be visiting our site if you could complete a simple loan application and get an excellent loan funded in one day. But Boardwalk Mortgage 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 mortgage loan.

Step one: determine how much you can borrow

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? 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: pre-qualify for your loan

This is where Boardwalk Mortgage can begin to save you money. You will give us info on your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we have gone over all this info we provide a letter of pre-qualification. Be careful with this letter — it is a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new home 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, you should apply for the loan. It couldn't be easier, 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 a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company on your closing date. Since you will not have to worry about these details, you can concentrate on the move, painting, carpet, and the details involved in moving into your new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you'll be moving in! Boardwalk Mortgage is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

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