The Loan Process: an Overview

	Are you looking for a mortgage? We'll be glad to talk about your mortgage needs! Give us a call at (901) 861-8022. Ready to get started? Apply Online Now.

There is no question ; getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to fill out a simple loan app and receive a great loan check cut the same day. But Bluff City Mortgage, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

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? Use the calculators on our website to determine your monthly payment amount. 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: complete a pre-qualification

This is where Bluff City Mortgage, Inc will begin to save you money. You will supply details on your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. After we've finished reviewing your information, we'll provide a pre-qualification letter. Your REALTOR® should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're deciding on the home that's right for you, we are researching the best loan for you.

Step three: apply for your loan

Once you've made an offer and it's been accepted, 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. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure the papers your lender will require are available, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Since you won't have to coordinate this process, you get to concentrate on the move, if you're going to repaint, carpet, and the details involved in moving into your new house.

You've answered a few questions, provided lots of information, applied online, and before you know it, you're moving in! Bluff City Mortgage, Inc is a mortgage specialist; you're not — so we do the work. Doesn't that sound nice?

Have questions about the loan process? Call Bluff City Mortgage, Inc at (901) 861-8022. We answer questions about the loan process every day.