About the Mortgage Loan Process

Shopping for a mortgage? We will be glad to assist you! Give us a call today at (972) 818-0022. Ready to get started? Apply Here.

There's no doubt that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single day by filling out a simple application. 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.

There are four main steps involved in getting a mortgage loan.

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? 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. 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 the process really begins and SMI Lending, Inc. can really save you money. You will supply information about your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. We'll review this info and will give you a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you've made the offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company to set your closing date. Because you won't have to worry about these details, you get to concentrate on moving, paint colors, new carpet, and the details involved in moving into a new house.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving! SMI Lending, 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 SMI Lending, Inc. at (972) 818-0022. SMI Lending, Inc. answers loan process questions every day.