Your Mortgage Learning Center
At Mlend, we are committed to making sure that you are an informed buyer. Let us take you through the mortgage application process.
How much can you afford for a monthly payment and what mortgage programs work for you? One of our loan officers will work with you to determine the best option to fit your needs.
Search For Your Home
Start combing those real estate listings with your realtor to find the perfect home for you. Be sure to maintain a good credit rating and touch base with your loan officer if you have to make a financial decision that may affect your pre-qualification.
Submit an Offer
Once you’ve found the home you want to call your own, work with your realtor to submit an offer.
Complete a Full Loan Application
If your offer is accepted, get in touch with your Mlend loan officer to continue the home financing process. Your loan officer will help you gather necessary documentation, which must be submitted in a timely manner to keep the process moving forward. You will also be asked to select a closing agent for title services and closing.
Approving Your Application
Mlend’s team of processors and underwriters will work together to create a smooth path for home mortgage approval. Additional documentation may be needed during this step. With the process nearing the end, you will want to start shopping for homeowners insurance for your soon-to-be home.
Head to Settlement
Bring a camera, as today is the day you sit at the settlement table. After signing all the documents, you’ll leave the table as an official homeowner!
First Time Homebuyers
As you embark on this unforgettable journey, Mlend is here to help you take advantage of a number of programs designed to help first time homebuyers. Local, state, and federal programs offer loans and grants designed to help make first time home ownership more affordable.
If you don’t have the best credit rating, that is OK. Mlend's credit rebuilding programs can help you achieve better overall financial wellness and prepare for homeownership.
Building a Home
Our mortgage professionals can help you finance your dream home! Mlend offers a number of programs to make the construction process more convenient by providing one loan to pay for both construction and long-term home financing.
Fixed Rate vs. ARM
Are you looking for payment stability or flexibility?
Fixed rate mortgages are offered in 10, 15, 20, and 30-year terms, and are the most popular type of loan offered by Mlend. They provide protection from inflation, allow long-term planning, and minimize the risks of homeownership.
Adjustable rate mortgages (ARMs) offer a fixed monthly payment for the initial term of the loan, then adjust to the market rate annually thereafter. This can be a great option if you are not planning to live in your home indefinitely.
Cash Out Refinance
The need for home repairs or large expenses can lead some homeowners to consider this option. Refinancing your home can help you make these purchases.
Faster Pay Off
Interest rates are subject to change through the life of a loan. You may also see changes to household income. This option can enable you to lock in a lower rate while paying off your mortgage in a shorter amount of time. Our Mlend team will help you understand how refinancing will impact you.