An Overview of the Loan Process

There's no question ; getting a mortgage loan is a complicated process. You wouldn't be visiting our website if it were possible to complete a one-page application and get an excellent loan funded in one 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.

Getting a loan involves four major milestones.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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? 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 provide information on your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. We will review this information then give you a pre-qualification letter. Handle it with care — it can be 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 shopping for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. When the time is right, we'll order the appraisal of your new home.

Step four: your loan is funded

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

You've answered some few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! Harbor View Lending* a DBA of Megastar Financial is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Harbor View Lending* a DBA of Megastar Financial at (207) 571-8034. Harbor View Lending* a DBA of Megastar Financial answers loan process questions every day.