How the Mortgage Loan Process Works

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There can be no question that getting a mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to fill out a simple mortgage application and get the best loan check cut 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 mortgage 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? 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 Excalibur Mortgage Corporation can start saving you money. You will supply information about your current job, assets, and residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. After we've finished reviewing this information, we'll provide you with a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your agent, we find the best program for you.

Step three: apply for your loan

After you've made 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 online right here on our site. Finally, we'll order the appraisal of your new home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure all the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company on your date to close. Since you will not have to coordinate this process, you get to concentrate on moving logistics, if you're going to repaint, carpet, and the details involved in moving into your new home.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you are deciding when to move in! Excalibur Mortgage Corporation is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Excalibur Mortgage Corporation at 714-891-0266. We answer questions about the loan process every day.