Ensure Lending Loan Process

Step 1
Determine Your Budget

Assess your financial situation and calculate how much you can afford for a mortgage payment

Step 2
Research Loan Options

Explore different types of home loans, such as fixed-rate mortgages, adjustable-ratemortgages, FHA loans, VA loans.

Step 3
Pre-approval Process

Gather necessary documents like income statements, tax returns, bank statements,etc. and determine the loan mount you qualify for.

Step 4
Find a Home

Use a trusted real estate agent to help you find a suitable property within your budget.

Step 5
Make an Offer

Work with your agent to draft a competitive offer for the property.

Step 6
Loan Application

Complete the official loan application with your chosen mortgage lender.

Step 7
Loan Processing

The lender verifies the information, orders an appraisal of the property while underwriters review the application.

Step 8
Loan Approval and Closing

Lender issues a loan commitment letter outlining the terms and conditions. Schedule a closing date, sign the loan documents.

Step 9
Loan Funds

The lender funds the loan and transfers the funds to the seller’s account, and you are now owner

Step 10
Loan Repayment

Make regular mortgage payments as per the agreed-upon terms and keep track of your mortgage account.

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