About the Mortgage Loan Process

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There is no question ; getting a mortgage is a complicated process. You would not be researching mortgage loans if it were possible to get a loan in a single day by filling out a simple application. 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.

There are four primary steps involved in obtaining a loan.

Step one: Decide how much you can afford

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 amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This step is where Colorado Home Mortgages, Inc. can start saving you money. You will provide info on your current job, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). We will review all this information then give you a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! Your real estate agent will 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 house with your agent, we find the best program for you.

Step three: apply for your loan

After you've made an offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, 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

Your real estate agent and the seller's will coordinate to find a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will need are available, and you'll probably}likely sign everything at their officeWe work with with the title company on your closing date. Because you don't need to coordinate this process, you get to think about moving logistics, if you're going to repaint, carpet, and the fun parts of getting a new house.

You've answered some few questions, provided detailed information, applied online, and before you know it, you are deciding when to move in! We take care of all the loan details so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Colorado Home Mortgages, Inc. at 303-471-4445. Colorado Home Mortgages, Inc. answers loan process questions every day.