The 5-Step Loan Process

Having the right mortgage company by your side is key to a smooth loan process. At Thistle, we work closely with you to move you through every touchpoint from start to close. And before you know it, you’ll have the keys to your new home in hand.

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Loan Process Heading

1. Find Out How Much You Can Borrow

Before you even begin looking for a home, you need to know exactly how much you can borrow and get pre-qualified. That way you can look at properties that are in your price range, be in a better position when negotiating with a seller, and close your loan quicker.

2. Select Your Loan Program

Some home loans offer fixed rates with terms lasting 15 or 30 years, and your monthly payments are always the same. Others offer adjustable rates where the interest rate periodically goes up or down, changing your monthly payment. Naturally, you’ll want to choose one that makes the most sense for your finances and goals.

3. Apply For A Loan

Start by gathering the documents you’ll need. That includes tax returns, pay stubs, W-2s, other proof of income, bank statements, and documentation about any other assets you may have. Next, fill out and submit a loan application. You may be asked at the same time to upload some of the documents you gathered.

4. Begin Loan Processing

Once your loan application has been received, we’ll start the loan approval process immediately. First, your loan processor will verify all of the information you have given, and whether there is anything further you need to provide. The important thing to remember at this stage is not to make any major purchases until your loan is closed.

5. Close Your Loan

Just before closing, you’ll be invited to take a walk-through of your home to ensure that any requested repairs have been completed and that any items it was agreed would stay in the house (such as appliances) are included. Then you’ll sign the final paperwork, deliver your closing funds (typically via a cashier’s check or wire transfer), and get your keys to your new home!

Hear From Folks Just Like You

It was a pleasure to work with Mark. He was a pillar of calm in what was a somewhat whirlwind experience for us... I know he cared about our situation like it was his own, and therefore worked really hard on our behalf.
Michael and Cheryl

The Thistle Difference

Lots Of Options

Lots Of Options

We've built strong partnerships with top lenders, which means you'll get the best options and rates.

A Tailored Approach

A Tailored Approach

We take the time to understand your goals and help you find a loan that’s right for you.

Easy To Reach

Easy To Reach

At Thistle, we don’t leave you hanging. We’re always here for you when you have questions.

Ready to Begin?

We’re excited to get to know you and start looking at options that’ll help you realize your dream. Contact your Minnesota mortgage broker today!

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