The Loan Process: an Overview

	In the market for a new mortgage loan? We will be glad to assist you! Call us at 208-941-3337. Ready to get started? Apply Now.

Make no mistake, there's a lot involved in order to get a mortgage. You wouldn't be researching mortgage loans if you could get a loan in one day with 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 important steps involved in getting a mortgage loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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. 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: pre-qualify for your loan

This is where the rubber meets the road and Goodrich Mortgage Group can really save you money. You will give us info on your current job, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we've reviewed your information, we'll provide a pre-qualification letter. Your REALTOR® will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan could not be much easier; you can apply any time right here on our site. Finally, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender requires are available, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your closing date. Because you won't need to coordinate this process, you can think about moving, painting, new carpet, and all the details of getting a new house.

You've answered a few questions, given us lots of information, applied , and before you know it, you're moving in! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Goodrich Mortgage Group at 208-941-3337. Goodrich Mortgage Group answers loan process questions every day.