The Four Steps of the Loan Process

There's quite a lot to do in order to get a mortgage. You would not be looking up loan information if you could get a mortgage loan in one 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 main steps involved in obtaining a mortgage loan.

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? 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. And we can guide you to the right loan amount and best program for you when you answer a few 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 ICM Lending will start to save you money. You will provide information on your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission. We will review this info then provide a letter of pre-qualification. 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 looking for a new home with your REALTOR™, 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. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to ensure the papers your lender needs are available, and you'll likely sign all these papers at this company's office. We will coordinate with this company on your closing date. Since you will not have to worry about these details, you can concentrate on moving logistics, painting, new carpet, and the details involved in moving into a new home.

After you have answered some few questions, provided lots of information, and applied online, you're ready to move in! We take care of the loan details so you can spend your time finding the new home that's right for you.