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October 12, 2012

Mortgage Basics: The Loan Process

by Molly Schiff
Central Coast Lending Logo

[Molly Schiff] — I’m relatively new to the mortgage business. As a graphic design and film studies major in college, my only contact with anything mortgage related were the few basic econ classes I was required to take early on in my education.

Now, as creative director at Central Coast Lending, I’m immersed in all things finance and mortgage. Refinance loans, purchase loans, FHA, USDA, HARP, APR…it can all be a bit overwhelming if you don’t have a background in economics. But, as I learn more about the business, I discover things aren’t really as complicated as they first seem, and the mortgage business is actually very interesting and sometimes even exciting. I’ll be writing this Mortgage Basics series as a way to share with you my own process of learning the basics of the business…and hopefully you can learn a thing or two about the business as well.

To start things off, we’re going to go through the basic loan process, from start to finish. From what I see, it’s a lot of paperwork, rate calculations and communication with banks. I’ve learned though, that the process of securing a purchase or refinance loan is pretty methodical, and can be broken down into four general steps:

(Mortgage Basics) The Loan Process Part 3: Appraisal
(Mortgage Basics) The Loan Process Part 4: Loan Funding
I will be working through these steps in the next several weeks. Make sure to check in for more!


Central Coast Lending is a California mortgage brokerage based in San Luis Obispo County. With offices in San Luis Obispo, Morro Bay, Paso Robles, and Arroyo Grande, Central Coast Lending is the top source for Central Coast mortgage, real estate, and home loan needs. To see why using a broker offers lower rates and superior service, click HERE. For a free, hassle-free online pre-qualification click HERE or call 805.543.LOAN to talk to one of our expert loan officers.

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