How the Mortgage Loan Process Works

In the market for a new mortgage? We'll be glad to discuss our mortgage offerings! Call us at (512) 537-8000. Ready to get started? Apply Here.

There's no doubt ; getting a mortgage is a complex process. You wouldn't be here on our site if it were possible to complete a one-page application and receive a great loan funded in one day. But Nations Reliable Lending, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

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? We can 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 and can proceed from there with an application. 

Step two: Apply for your loan

This is where the process really begins and you save the most money. You will give us information on your employment, your assets, and 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 finished reviewing the provided information, we'll be able to give you a pre-qualification letter. Handle it with care — it can be a great tool for buying your new home! Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new house with your REALTOR™, we find the best program for you.

Once you have made an offer and the sellers accept it, it's time to order an appraisal of your new home and begin the verifications on your behalf to get things rolling in order to close on time. We'll update you every step of the way as to where we are in the process, continue to get requested items that underwriting needs, and have you finished with the loan process before you know it!

Step four: funding

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender will require are in order, and you'll probably/likely sign everything at their office. We work with with the title company to set your date of closing. Because you will not have to worry about these details, you can concentrate on moving, painting, new carpet, and the details involved in getting your new home.

You've answered some few questions, provided lots of information, applied, and before you know it, you're deciding when to move in! Nations Reliable Lending, LLC is in the business of loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Cody and his team at Nations Reliable Lending, LLC. You can reach us in Austin at (512) 537-8000 or in San Antonio at (210) 702-3400. It's our job to answer lending questions, so we're happy to help!

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