An Overview of the Loan Process

No doubt, a lot involved when you get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in a single day with a simple application. 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 home loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. 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 is where Harbor View Lending* a DBA of Megastar Financial will start to save you money. You will give us details on your current job, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. We will go over all this information and will give you a letter of pre-qualification. Be careful with this letter — it is a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your 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 an offer and the sellers accept it, you should apply for the loan. Applying for a loan couldn't get much easier; you can apply from the comfort of your home right here on our site. When the time is right, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will work together to designate a title company to handle the funding of your loan. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe coordinate with the title company to set your date of closing. Because you won't have to worry about these details, you get to think about moving logistics, paint colors, carpet, and the fun parts of getting your new home.

You've answered some few questions, provided detailed information, applied online, and before you know it, you are moving 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. It's our job to answer lending questions, so we're happy to help!