The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There can be no question that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a loan in a single 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.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This is where the process really begins and you save the most money. You will supply details on your current job, assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed this 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! Your agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! 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 an offer and the sellers accept it, you should apply for the loan. Applying for a loan couldn't get much easier; you can apply online right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.
Step four: funding
The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company on your date to close. Because you won't need to worry about these details, you can concentrate on moving logistics, if you're going to repaint, carpet, and all the details of moving into a new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! We take care of the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Amity Mortgage LLC at (203) 729-6681. It's our job to answer lending questions, so we're happy to help!