Our Process

Making Mortgages Simple

With more than 25 years of experience in the mortgage industry, we’re well versed in the language of loans and lenders. Acting as a matchmaker for you and your potential lenders, we vet and pursue mortgage offers on your behalf with the shared goal of finding a perfect match.

Here’s how it works:

Step One

Start an Application

You’ll be asked to provide your personal information as well as financial details.

Step Two

Credit Check & Pre-Approval

After a quick five-minute credit check, you will be pre-approved to move forward with pursuing your loan.

Step Three

Meet & Greet

Here’s where you’ll be connected with a Market St. Mortgage loan officer. We love this step: Getting to know you helps us find the ideal mortgage for you.

Step Four

Gathering & Uploading Documents

We streamline the paperwork process so it’s safe and secure.

Step Five

Mortgage Matchmaking

With paperwork out of the way, you will be assigned to a Market St. Mortgage processor. Then, it’s time to make a match with your ideal lender.

Step Six

Loan Submission & Approval

After we submit your loan to your ideal lender, an underwriter signs off to make sure all I’s are dotted and T’s are crossed before final approval.

Step Seven

Closing & Keys

We’re by your side at the closing table for final signatures, financial transfers, and the most exciting step: receiving the keys to your new home.

FAQs

In case you’re wondering…

  • How much you can comfortably afford depends on a lot of factors based on how you live your daily life. The most important considerations are how much money you make each month, the total cost of your monthly expenses, how much you have saved up to put toward a down payment, and trends in current interest rates and home values.

  • There are a lot of different types of mortgages available, but the two most common are fixed rate, and adjustable rate. 

    Fixed-rate mortgages have set principal and interest payments that are determined at signing. The advantage is that you’ll always know what your payments will be since they don’t change over time. Fixed-rate mortgages are available in 10-, 15-, 20-, 25-, or 30-year terms with payments consistent for the length of the loan. 

    Adjustable-rate mortgages, or ARMs, have payments that adjust over time depending on the length of the loan. ARMs are available in 5-, 7-, or 10-year terms with interest rates fixed respectively. The advantage of ARMs is that if you’re only planning on owning your home for a short period of time, you can take advantage of the shorter loan duration and lock in a lower rate.

  • Usually, it takes anywhere from 30 to 60 days to get a mortgage, though in some cases it might take longer. Working with Market St. Mortgage to streamline paperwork and documents can help the process move along more quickly, getting you into your new home sooner.

  • The amount of paperwork required to apply for a mortgage may seem daunting, but it’s usually no different than what’s required when filing your annual taxes. You’ll want to gather your most recent pay stubs, W2s, the prior year’s tax return, bank statements, and any additional statements reflecting investments or money holdings. In most cases, you’ll need to provide just a month’s worth of statements, though in some instances you may be asked to go back further.

  • Technically, you don’t need to be pre-approved for a mortgage in order to apply for one. But it’s a good idea for a few reasons. Getting pre-approved for a mortgage will give you a sense of your budget in terms of how much you can afford when looking for homes. Having a pre-approval letter in hand when shopping for homes is also a great way to show potential sellers that you’re serious about making an offer. It can also be an advantage when it comes to working with lenders, since it shows them you’re serious about moving through the process.