CMS: Capital Mortgage Services, Ventura, CA   |   (805) 644-1621

4-Step Overview of the Loan Process

There are four main steps involved in getting a loan. As your broker, we'll do most of the work for you (that's what we're here for). All you need to do is answer a few questions, give us some detailed information, and complete the loan application.

Step 1: How much can you borrow?

The first step is to determine a) how much you can afford per month, and b) how much a lender will loan you (given your unique credit and employment history, income, debt, and goals). First, use our calculators to find out how much you can afford to pay per month. We'll help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll tell you what kind of terms and loan program you can expect to benefit most from.

Step 2: Pre-qualify, then choose a home.

Here's where you save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. After we've reviewed all this information, we give you a Pre-Qualification Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your realty agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose. When the seller knows you're pre-qualified, it gives you buying clout!

While you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step 3: Apply now! We make it easy.

Once you've made an offer and it's been accepted, it's time to complete the loan application. We also have a loan application checklist to help you remember the additional documents you'll need to submit.

When the time is right, we'll order an appraisal of your new home.

Step 4: You're Done.

After your loan is approved, your realty agent will work with the seller's agent to designate an escrow/title company to handle the funding. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office. Next thing you know, you're moving in!