|Mortgage Lending Step 1:
Start With a Good Credit Standing
Applicants with a good credit report will be in a stronger position to negotiate best rate and terms
|Mortgage Lending Step 2:
Calculate How Much Home to Afford
Your home purchase should be in the income range that you can afford
The true cost of a mortgage loan includes the loan payment, taxes, insurance and other related charges
How Much Down Payment and Closing
|Mortgage Lending Step 3:
Add Up the Numbers
Now let's add up the numbers.
|Mortgage Lending Step 4:
Analyze Your Capacity to Repay
Your capacity to repay your mortgage loan is a key factor for lender approval
|Mortgage Lending Step 5:
Pre-Qualify for a Mortgage
Loan pre-qualification will strengthen your negotiating position with the seller
You may begin your pre-qualification search through our national network of lenders and brokers:
|Mortgage Lending Step 6:
Understand the Mortgage Process
We have a number of important notes that will summarize the mortgage lending business:
|Mortgage Lending Step 7:
Review Mortgage Lending Products
Which mortgage loan fits your financial objectives?
|Mortgage Lending Step 8:
Shop Mortgage Lending Rates
Mortgage rates change daily.
The quoted rate you see may not be the actual rate you receive.
|Mortgage Lending Step 9:
Submit Application and Compare Lenders
are now ready to submit your mortgage application
Three important notes:
|Mortgage Lending Step 10:
Finalize Application and Go to Closing
Once you submit your application, compare the offers and terms from multiple lenders.
We have information about negotiating tactics: click here