Loan Approval Process

Guidelines and Requirements

Taking the First Step

Completing the approval process will get you on your way to getting the right loan guaranteed.

An Approval Process Profile

When you're ready to get your next (or first) home's financing under way, you'll need to start the approval process. Approval means that your mortgage provider has reviewed your proposed purchase and your ability to pay for it. In order to start this process, you'll need to begin by filling out a loan application. In our case, this will involve creating a secure account so you can fill out your application at your convenience. From there, your credit information and history will be looked over by us, and we'll let you know based on that information how much you can afford in mortgage loans. 

But the approval process doesn't end there, that's just pre-approval. Once we've gone over all this information, the loan processor has to verify the value of your property and get all the required documents together to finalize approval and get you into contract for the right loan for you. From here, you'll schedule a closing date to complete the whole approval process so you can start focusing on your new home. If you would like to refer to the different types of loans available at any time, you can check our loan services for a run-down of each one we offer. If all this sounds like a lot to get done, don't worry. Check out what past MCity clients have said about our commitment to helping you through the entire mortgage process.

How Can I Get a Loan Guaranteed? What's Pre-Qualification?

If you're looking to buy a house with a loan, guaranteeing the lender that you're qualified for that loan will entail sending a pre-qualification letter before moving on with the approval process. A pre-qualification letter will usually come from the bank you already use and will show that you have consulted with a qualified lender regarding owning property. When looking to buy with a loan, guaranteeing the seller that you have the ability to fund your prospective purchase is important for obvious reasons, as all parties involved will want to make sure that the process from approval to closing goes smoothly so you can enjoy your home. 

If your next home purchase means taking out a loan, guarantee your satisfaction by working with MCity. Whenever you're ready to take that step, give us a call and we'll help you through the approval process so you can get your next big investment moving.

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