The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps

There's a lot to do in oder to get a mortgage loan. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out a simple application. But Amity Mortgage LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will give us details on your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for the home that's right for you, we're busy researching the loan program that's just right for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will coordinate to decide on a title company to take care of the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with this company on your closing date. Because you don't need to coordinate this process, you get to think about the move, if you're going to repaint, carpet, and all the details of getting your new home.

You've answered some few questions, provided lots of information, applied online, and before you know it, you are deciding when to move in! We do the legwork so you can focus on finding your new home.

Have questions about the loan process? Call Amity Mortgage LLC at (203) 729-6681. Amity Mortgage LLC answers loan process questions every day.

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