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5 Steps: How to Apply for a Mortgage Loan

17 Jul

How to Apply for a Mortgage Loan

Step 1: Find a lender  

Choose the best lender for you. Central Star offers several loan options.

Step 2: Check credit report

Make sure that your credit report is accurate and credit history is cleaned up.

Step 3: How much can you reasonably spend

You might qualify for more than would be comfortable paying. Being “house poor” is when homebuyers spend too much.

Step 4: Apply for loan

After checking credit, deciding on an amount and saving a down payment, it is time to submit a loan application.

Step 5: Closing

Closing is the final step in the home mortgage process. Congratulations you are now a homeowner.

Further Reading:

Mortgage Application Tips

Mortgage Basics: Learn About Buying a Home

10 Questions to Ask When Applying for a Mortgage Loan

How to Qualify for a Mortgage Loan with Bad Credit