The Loan Process: an Overview

	Looking for a mortgage loan? We'll be glad to talk about your mortgage needs! Give us a call at 952-929-2577. Ready to begin? Apply Here.

There is little question that getting a mortgage loan is a complicated process. You wouldn't be here on our website if you could complete a one-page loan application and get an excellent loan funded the same day. But VENTURE DEVELOPMENT INC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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? 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: pre-qualify for your loan

This is where the rubber meets the road and VENTURE DEVELOPMENT INC can really save you money. You will give us information about your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). We will go over all this information and provide a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we're busy researching the loan that's just right for your situation.

Step three: apply for your loan

Once you have made an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply right here on our site. Finally, we'll order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to designate a title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender will require are available, and you will probably}likely sign everything at this company's officeWe coordinate with this company to set your closing date. Because you don't need to coordinate this process, you get to think about the move, painting, new carpet, and all the details of getting your new house.

You've answered a few questions, given us lots of information, applied online, and before you know it, you're 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 VENTURE DEVELOPMENT INC at 952-929-2577. It's our job to answer lending questions, so we're happy to help!