An Overview of the Loan Process

Make no mistake, there's quite a lot involved when you get a mortgage loan. You wouldn't be visiting our site if it were possible to complete a simple application and receive the best loan check cut in one day. But Harbor View Lending* a DBA of Megastar Financial does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major steps.

Step one: Decide on your maximum loan amount

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? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where the process really begins and Harbor View Lending* a DBA of Megastar Financial can really save you money. You will supply information on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. Your agent will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are researching the best loan program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, you should complete the loan application. 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 submitted your loan application, we'll order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will work together to decide on an escrow/title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe work with with the title company on your date to close. Because you don't have to worry about these details, you can think about the move, if you're going to repaint, carpet, and the details involved in moving into a new house.

You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving! 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. It's our job to answer lending questions, so we're happy to help!