The Mortgage Loan Process

Be sure, there is a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out an application and get the best loan, funded the same day. As a Florida Mortgage Lender and a registered New York Mortgage Broker (Concept Group I/L/O/T/N Manhattan Mortgage Corporation), what we do is most of the heavy work for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity line of credit check.

There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, how much will a lender loan you? The first part you can get a rough idea of by using the calculators on our website. We'll 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-approval for your loan

You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information we give you a Loan Pre-Approval Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your realty agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-approved. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted we'll complete the loan application. It couldn't be easier. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your realty agent and the seller's will work together and designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.

You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans, you're not -- so we do most of the work. Doesn't that make sense?