How the Loan Process Works

There's a lot involved when you get a mortgage loan. You wouldn't be here on our site if it were possible to complete a one-page loan app and get the best loan check cut in one day. 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 steps.

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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 the rubber meets the road and Utah Funding can really save you money. You will give us info on your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've reviewed 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 real estate agent 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 your new home with your REALTOR™, we find the best program 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 couldn't be easier, and you can do it online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with this company on your date of closing. Because you will not need to coordinate this process, you can concentrate on the move, painting, new carpet, and the details involved in getting a new home.

You've answered some few questions, provided lots of information, applied , and before you know it, you are moving in! We take care of the legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Utah Funding at (949) 486-3777. Utah Funding answers loan process questions every day.