An Overview of the Loan Process

Looking for a home loan? Call 619-542-7744 for a free consultation.

There's little doubt that getting a mortgage loan is a complex process. You need to have someone who is detail oriented and trustworthy managing the details so that your real estate transaction goes smoothly.  At Metro Express Mortgage we do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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. And we can guide you to the right loan amount and best program for you when you answer a few questions.  Believe it or not, having someone who is familiar with the city, county or neighborhood you are buying into can make the difference in what loan product is recommended, which can in turn impact your monthly loan payment.

Step two: complete a pre-qualification

This is where Metro Express Mortgage can begin to save you money. You will provide information about your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score. We'll go over all this information then provide a pre-qualification or pre-approval letter.  In a competitive market like San Diego we will almost always recommend having a pre-qualification letter on hand so that when you do make an offer the seller views it as the strongest offer and your offer gets accepted!  With this letter, your real estate agent will negotiate the best deal for your new home.  

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, it's time to complete the loan application and officially submit your package to a lender.  It couldn't be easier, if you contact me today we can have you approved within 24 hours.  After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender will need are available, and you'll probably}likely sign everything at this company's office.  We do all the work to coordinate with this company to set your date of closing. Since you will not have to worry with this coordination, you can concentrate on the move, if you're going to repaint, carpet, and all the details of getting your new house.

You've answered a few questions, given us detailed information and before you know it, you are moving in! We take care of the legwork so you can spend your time finding your new home.

Have questions about the loan process? Call Metro Express Mortgage at 619-542-7744. We answer loan process questions every day.

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Metro Express Mortgage

4025 Camino Del Rio South Suite 300
San Diego, CA 92108