How the Loan Process Works

There is no doubt ; getting a mortgage loan is a complex process. You wouldn't be here on our site if it were possible to complete a simple loan app and receive a great loan check cut the same 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 mortgage loan involves four major milestones.

Step one: Decide how much you can afford

This is a function of a couple things. 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. 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: pre-qualify for your loan

This is where Selectplus Lending can start saving you money. You will provide info about your current job, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've reviewed the provided information, we'll provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new house with your agent, we find the best program for you.

Step three: apply for your loan

After you've signed the 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. Finally, we'll order the appraisal of your new home.

Step four: FInd a home of your dreams and open escrow

Your REALTOR® and the seller's will work together to find an escrow/title company to take care of the funding of your loan. I will coordinate with this company to make sure all the papers your lender will require are available, I do all the work from start to finish for you and since you don't need to worry with this coordination, you get to think about the move, paint colors, carpet, and the fun parts of getting your new house.

You've answered some few questions, given us detailed information, applied online, and before you know it, you're moving in! I am in the business of mortgage loans; you're not — so I take care of the details. Doesn't that sound nice to you?