How the Mortgage Loan Process Works

	Shopping for a mortgage? We will be glad to assist you! Give us a call at 360-539-4687. Ready to get started? Apply Here.

There's little question ; getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out a simple application. But CU Mortgage Division does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a loan.

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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 is where CU Mortgage Division can begin saving you money. You will supply info about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We will review this information then give you a pre-qualification letter. Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for the home that's right for you, we're busy researching the loan that's just right for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we'll order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will work together to decide on a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your date to close. Since you won't have to coordinate this process, you can concentrate on moving logistics, painting, carpet, and all the details of getting your new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you'll be moving in! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call CU Mortgage Division at 360-539-4687. CU Mortgage Division answers loan process questions every day.