How the Loan Process Works

Shopping for a mortgage loan? We'd be thrilled to answer your questions about your mortgage needs! Give us a call today at (714) 827-5125. Ready to get started? Apply Online Now.

There's no question that getting a mortgage is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. But Pride Of Ownership Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

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 amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. 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 rubber meets the road and Pride Of Ownership Inc. can really save you money. You will supply details on your employment, assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we have reviewed this info we give you a letter of pre-qualification. Your agent will likely use the 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 shopping 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 the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your REALTORĀ® and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Because you won't need to worry with this coordination, you can think about the move, painting, new carpet, and the details involved in getting a new house.

You've answered some few questions, given us lots of information, applied online, and Before you know it, you'll be moving! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call Pride Of Ownership Inc. at (714) 827-5125. It's our job to answer lending questions, so we're happy to help!

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