How the Loan Process Works

	Shopping for a mortgage loan? We'd be thrilled to talk about your mortgage needs! Call us at 978-422-2311. Want to get started? Apply Here.

There's little doubt ; getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to complete a simple loan app and receive a great loan funded the same day. But PREMIERE MORTGAGE SERVICES INC. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major milestones.

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? 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 questions. 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: pre-qualify for your loan

This is where PREMIERE MORTGAGE SERVICES INC. can start saving you money. You will provide info on your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. We will review this information and will provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! Your agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new home with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender requires are available, and you'll probably}likely sign all these papers at this company's officeWe coordinate with this company to set your closing date. Because you won't need to coordinate this process, you get to think about moving logistics, if you're going to repaint, carpet, and all the details of moving into a new house.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're moving in! PREMIERE MORTGAGE SERVICES INC. is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call PREMIERE MORTGAGE SERVICES INC. at 978-422-2311. We answer questions about the loan process every day.