About the Loan Process

No doubt, quite a lot involved in oder to get a mortgage. You wouldn't be here on our site if you could complete a simple mortgage application and get an excellent loan check cut in one day. But Power Purchase Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in obtaining a loan.

Step one: determine how much you can borrow

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. 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 process really begins and Power Purchase Mortgage can really save you money. You will give us details 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. When we review this info we give you a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, it's time to complete the loan application. Applying for a loan could not get much easier; you can apply right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to make sure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with the title company on your closing date. Because you won't need to worry about these details, you get to concentrate on moving, if you're going to repaint, carpet, and the details involved in getting your new house.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving in! Power Purchase Mortgage is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Power Purchase Mortgage at (800)593-0143. It's our job to answer lending questions, so we're happy to help!