The mortgage loan calculator below is sourced from a provider. Is meant for estimation purposes only. For an calculation tailored to your specific situation we suggest contacting a qualified lender.

When it comes to securing a home mortgage there are many steps involved. Here’s an overview of the process;

1. Evaluate Your Status

Before seeking a mortgage it’s important to assess your standing. This involves checking your credit score calculating your debt, to income ratio and determining the amount you can comfortably borrow.

2. Look Into Mortgage Options

There are many different types of mortgage options; fixed rate mortgages, adjustable rate mortgages (ARMs) FHA loans, VA loans and many more. Work with a lender and research these options to find the one that aligns best with your needs.

3. Pre-approval Process

Obtaining pre approval for a mortgage can provide insight into the amount you qualify for and show sellers that you’re serious about buying. To get pre approved you’ll need to submit documents like pay stubs, tax returns and bank statements, to the lender.

4. Selecting a Lender

Take the time to research and compare lenders in order to secure mortgage rates and terms.
You have the option to work with banks, credit unions, mortgage brokers or online lenders.

5. Application Submission

Once you’ve selected a lender you’ll be required to fill out a mortgage application. This process involves providing information regarding your income work history, assets, debts and the property you wish to buy.

6. Underwriting Review

Following the submission of your application the lender will initiate the underwriting review. This includes verifying your details evaluating your creditworthiness and determining if you meet the lenders mortgage criteria.

7. Property Appraisal and Inspection

Typically the lender will request a property appraisal to assess its value and ensure it aligns with lending standards. It might also be wise to conduct a home inspection to uncover any issues, with the property.

8. Final Approval and Closure

Should your mortgage application receive underwriter approval and both appraisal and inspection results are satisfactory you’ll be granted approval, for the loan. You will then sign documents at a closure meeting where you’ll cover closing costs and fees while ownership of the property is transferred to you.

9. Loan Repayment

Following completion of your mortgage agreement, the processing of regular monthly payments according to loan terms will commence. Please keep in mind that the mortgage procedure may differ based on factors, like the lender, the type of mortgage and your specific financial circumstances. Collaborating with a real estate agent and mortgage broker can assist you in navigating the process smoothly and ensuring a seamless transaction.

Should you need help finding a lender feel free to reach out to us. We have connections, with lenders and would be happy to offer suggestions tailored to your requirements.

To search for homes in Evergreen, Colorado and the surrounding areas that are for sale, please contact us or click here.

Mark Stitt

Call or Text: 303.870.8826

*We do not assume responsibility for the accuracy of the mortgage loan calculator provided below.