An Overview of the Loan Process

There is no doubt that getting a mortgage loan is a complicated process. You wouldn't be here on our site if you could complete a one-page loan app and get an excellent loan funded 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.

Step One: Decide how much you can afford

A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment amount 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 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: Pre-qualify for your loan

This is where the rubber meets the road and Metro Mortgage can really save you money. You will provide information about your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we have gone over all this info we will give you a letter of pre-qualification. Be careful with this letter — it is a great tool for buying your new home! Your agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for the home that's right for you, we're busy finding the loan program that's right for your unique situation.

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. Applying for your loan could not get much easier; you can apply right here on our site. Finally, we will order an appraisal of your new home.

Step Four: Your loan is funded

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 the papers your lender will require are available, and you'll likely sign everything at this company's office. We will coordinate with the title company on your date to close. Since you will not have to worry with this coordination, you can concentrate on the move, painting, carpet, and the details involved in getting a new home.

After you have answered a few questions, given us detailed information, and applied, you'll be ready to move sooner than you think! Metro Mortgage is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it?