How the Mortgage Loan Process Works

	Looking for a loan? We'll be glad to answer your questions about our mortgage offerings! Call us at 775-829-2070 ext 8007. Want to get started? Apply Now.

No doubt, quite a lot involved in oder to get a mortgage loan. You wouldn't be looking up loan information if it were possible to get a loan in one day by filling out a simple application. 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 main 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? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple 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 the rubber meets the road and Frontier Financial Credit Union can really save you money. You will give us information on your current job, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we have reviewed all this info we give you a letter of pre-qualification. Handle it with care — it can be a great tool when you make your offer! Your agent should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are researching the best loan program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our website. When the time is right, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to work with with this company to set your closing date. Since you won't have to coordinate this process, you can think about moving, paint colors, carpet, and the details involved in getting your new house.

You've answered some few questions, provided detailed information, applied , and the next thing you know, you are deciding when to move in! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call Frontier Financial Credit Union at 775-829-2070 ext 8007. It's our job to answer lending questions, so we're happy to help!