About the Loan Process

There can be little doubt that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a loan in one day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a mortgage loan involves four major milestones.

Step one: Decide how much you can afford

A couple of factors determine this amount. How much of a monthly payment can you afford? 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 abount using the calculators on our website. 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: complete a pre-qualification

This step is where Harbor View Lending* a DBA of Megastar Financial can start to save you money. You will give us information on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Handle it with care — it is a great tool when you make your offer! Your REALTOR® will likely 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 deciding on the home that's right for you, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date to close. Since you won't have to worry with this coordination, you can think about the move, painting, new carpet, and the fun parts of getting your new home.

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

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.