About the Mortgage Loan Process

	Shopping for a mortgage loan? We'll be glad to talk about our mortgage offerings! Give us a call today at 8088830740. Ready to get started? Apply Here.

There's a lot involved when you get a mortgage. You wouldn't be visiting our website if it were possible to complete a simple loan app and receive an excellent loan check cut 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.

Getting a home loan involves four major steps.

Step one: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 Spooner Financial Services, Inc. will start to save you money. You will provide information about your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed your information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a great tool when you make your offer! Your REALTOR® will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you will probably}likely sign everything at their officeWe coordinate with this company to set your date of closing. Since you won't have to worry about these details, you can think about moving, painting, new carpet, and all the details of getting a new house.

You've answered some few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! We take care of the mortgage legwork so you can focus on finding your new home.

Have questions about the loan process? Call Spooner Financial Services, Inc. at 8088830740. We answer questions about the loan process every day.