The Mortgage Loan Process: An Overview
Getting a mortgage is a big step—and yes, there’s a lot involved. The good news?
Kim Pedersen Team– Alerus Mortgage does the heavy lifting so you can focus on finding your dream home, not stressing over the details.
The 3 Key Steps to Your Home Loan
Step 1: Get Pre-Approved
Before you start house hunting, it’s important to know your budget and borrowing power.
- What monthly payment feels comfortable for you?
- How much can you borrow based on your income and credit history?
We’ll walk you through different scenarios and review your employment, assets, and credit report.
Once complete, you’ll receive a Pre-Approval Letter that your REALTOR® can use to strengthen your offer.
? Use our Mortgage Calculators to get a quick estimate.
? After a short conversation, we’ll give you a clear idea of your borrowing power.
Step 2: Find Your Property & Finish Your Application
Once you’re pre-approved, it’s time to find the home that’s right for you. After your offer is accepted:
? Finish your application with specifics related to the property—we’ll guide you through the details.
? We’ll order an appraisal of your new home and keep the process moving smoothly.
While you’re focused on your new home, we’re working behind the scenes to match you with the best loan program for your needs.
Step 3: Closing & Funding
Your escrow/title company will handle the closing, and we’ll coordinate everything behind the scenes to make sure all documents are in order.
You’ll sign the final paperwork, and then it’s time for the fun part—planning your move, picking paint colors, and settling into your new home.
Why Choose Kim Pedersen – Alerus Mortgage?
At Alerus Mortgage, we believe in a tradition of trust—because buying a home is more than a transaction, it’s a milestone.
From start to finish, we handle the details so you don’t have to.
You answer a few questions, provide some information, finish your application—and before you know it, you’re moving in!
Our Promise
? A tradition of trust in every step
? Personalized guidance tailored to your goals
? Industry-leading rates and a wide range of tailored loan solutions for every stage of life
? Expert financial counseling to help you make informed decisions for your future
That’s what we do best: making homeownership simple, secure, and built on trust.
Have Questions?
?? Call Kim Pedersen – Alerus Mortgage at 952-417-8466.
We’re here to help every step of the way.