How the Mortgage Loan Process Works

There is no doubt ; getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in one day with a simple application. But Harbor View Lending* a DBA of Megastar Financial 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: Decide how much you can afford

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? Use the calculators on our website to determine your monthly payment amount. We'll also 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.

Step two: pre-qualify for your loan

This is where Harbor View Lending* a DBA of Megastar Financial will start to save you money. You will provide details on your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we have gone over this info we will give you a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

After you've made the offer and the sellers accept it, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure all the papers your lender requires are in order, and you'll probably}likely sign everything at their officeWe work with with the title company on your closing date. Since you will not have to worry about these details, you get to think about the move, painting, carpet, and the details involved in getting a new house.

You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! Harbor View Lending* a DBA of Megastar Financial is in the business of loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Harbor View Lending* a DBA of Megastar Financial at (207) 571-8034. We answer questions about the loan process every day.