An Overview of the Mortgage Loan Process

Make no mistake, there's a lot involved in order to get a mortgage loan. You wouldn't be visiting our website if it were possible to complete a simple mortgage application and get a great loan funded in one day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four primary steps involved in getting a loan.

Step one: Decide how much you can afford

This is a function of a couple things. 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? Use the calculators on our website to determine your monthly payment amount. 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: Complete a pre-qualification

This is where Jim Dorney can begin saving you money. You will supply info on your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We run your credit score and report. We will review this info and will provide a pre-qualification letter. Your real estate agent will use the pre-qualification or lender letter (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home, we are looking for the best loan for you.

Step three: Apply for your loan

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: Your loan is funded

The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure all the papers your lender requires are in order. We do all the work to work with with the title company to set your date to close. Because you will not have to coordinate this process, you get to think about moving, if you're going to repaint, new carpet, and the fun parts of getting a new house.

You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving in!

Jim Dorney is a mortgage specialist; and would be glad to further explain more details specific to you and your loan.

   357 S. McCaslin Blvd, Suite 200

   Louisville, CO 80027

  Phone: 303-443-5566  

  Fax: 303-444-8791