The Mortgage Loan Process: an Overview

Make no mistake, there's a lot to do when you get a mortgage. You would not be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a home loan involves four major steps.

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? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: pre-qualify for your loan

This is where the process really begins and you save the most money. You will supply info on your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool when you make your offer! Your real estate agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for a new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. 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 designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender requires are in order, and you will probably}likely sign all these papers at this company's officeWe work with with the title company to set your date of closing. Because you won't need to coordinate this process, you can think about the move, painting, new carpet, and all the details of moving into your new house.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you'll be moving! Amity Mortgage LLC is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?

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

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