How the Mortgage Loan Process Works

There can be no doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our site if it were possible to fill out a one-page loan app and receive an excellent loan funded in one day. But Churchill Mortgage Company does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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? You can get a good idea of your preferred payment abount 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 quewstions. 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 the rubber meets the road and Churchill Mortgage Company can really save you money. You will give us info about your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it can be a useful tool for buying your new home! Your REALTOR® will likely use the 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 looking for your new home with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not get 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

Your REALTOR® and the seller's will coordinate to find a title company to handle the funding of your loan once it has been approved. We'll work with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with this company on your closing date. Since you don't have to coordinate this process, you get to think about moving logistics, paint colors, carpet, and all the details of moving into your new house.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're moving in! Churchill Mortgage Company is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Churchill Mortgage Company at (703) 551-4107. Churchill Mortgage Company answers loan process questions every day.


English Spanish