An Overview of the Loan Process

	Looking for mortgage advice? We will be glad to assist you! Call us at 802-253-2055. Ready to begin? Apply Here.

Make no mistake, there's a lot involved when you get a mortgage loan. You would not be looking up loan information 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.

Getting a loan involves four major milestones.

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? 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 quewstions. 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: pre-qualify for your loan

This is where Primary Residential Mortgage, Inc will start saving you money. You will supply details about your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. We will go over this information and will provide a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for the home that's right for you, we're busy researching the loan program that's right for your unique situation.

Step three: apply for your loan

After you've made an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to find an escrow/title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender requires are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your closing date. Because you will not need to coordinate this process, you get to concentrate on moving, if you're going to repaint, new carpet, and the fun parts of moving into a new house.

You've answered a few questions, given us lots of information, applied , and Before you know it, you're moving! Primary Residential Mortgage, Inc is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Primary Residential Mortgage, Inc at 802-253-2055. It's our job to answer lending questions, so we're happy to help!