How the Mortgage Loan Process Works

There can be no doubt that getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if you could get a mortgage loan in one 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 primary steps involved in obtaining a loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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. 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: complete a pre-qualification

This is where Front Range Lending can begin to save you money. You will give us info on your current job, assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. We will review this info and will give you a pre-qualification letter. Your real estate agent should 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 home 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 the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order a professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your closing date. Because you will not have to worry about these details, you can concentrate on the move, painting, carpet, and the fun parts of getting a new house.

You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving in! Front Range Lending is in the business of mortgage loans; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call Front Range Lending at 7202537070. It's our job to answer lending questions, so we're happy to help!