An overview of the loan process - Digital Loan Store -Home Equity/Mortgage Loans-

An overview of the loan process

Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity check.

There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.

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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? The first part you can get a rough idea of by using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This is where the rubber meets the road and 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. When we review 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, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: 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. It couldn't be easier, and you can do it online, right here at our website. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your realty agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's approved. 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.

You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans, so we do most of the work.

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	4.97%	5.13%
15-yr Fixed	4.33%	4.56%
1-yr Adj	4.27%	5.3%

* national averages

Mortgage Calculator:

Sales Price:		$
Down:		%
Interest Rate:		%
Term:		yrs

Monthly payment:		$

We lend in the following states: WA, OR, ID, NV, CA and have Affiliates in all 50 States. West Horizon Financial Inc. 510-MB-24616

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Mortgage News Daily:

MBS OPEN: Rates Ticking Higher Just Because They Can

3/10/2010 7:40 AM

Posted To: MBS Commentary

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3/10/2010 7:22 AM

Posted To: MND NewsWire

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Explaining The MBS Settlement Process

3/9/2010 3:51 PM

Posted To: MBS Commentary

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Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings

3/9/2010 2:45 PM

Posted To: MND NewsWire

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HUD Enforcing Job Creation Requirements for State and Local Governments

3/9/2010 2:37 PM

Posted To: MND NewsWire

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MBS AFTERNOON: Potential Reprices For The Better

3/9/2010 2:01 PM

Posted To: MBS Commentary

MBS Off To The Races with 4.5's up 8 ticks to 101-15! 10yr up 5 ticks on the day dropping yield to 3.70 (through post auction resistance) Reprices for the better = highly likely From the Ninja: Mortgages are still on hold as today’s 3yr note auction held few surprises-eve...Read More

Risk Weighted Returns; Warehouse Lending Credit Manager Needed; Subprime Analysts Lost; Bank News

3/9/2010 1:56 PM

Posted To: The Garrett Watts Report

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MBS LUNCH: 3 Year Note Auction Results And Reaction

3/9/2010 12:19 PM

Posted To: MBS Commentary

Immediately following the 3yr Treasury Note auction, treasuries weakened while MBS held steady. Since then, MBS have lost a few ticks, but the 4.5 remains positive on the day, up 1 tick at 101-07. The 10yr note is also up a tick leaving the yield just under 3.72. The 10yr's pos...Read More

MBS MORNING: Fed President Reminds About Labor Market Weakness

3/9/2010 10:23 AM

Posted To: MBS Commentary

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Empty Econ Calendar Helps Mortgage Rates Hold Steady. Auctions Biggest Reprice Threat

3/9/2010 10:05 AM

Posted To: Mortgage Rate Watch

After last week’s rates roller coaster ride that forced multiple reprices for the better and the worse, yesterday was quite boring. Mortgage rates held steady as prices of mortgage backed securities never moved too far in either direction. With very little price volatility, l...Read More

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