The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There can be no doubt that getting a mortgage is a complicated process. You wouldn't be visiting our website if you could complete a one-page loan app and receive a great loan funded the same day. 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 milestones.
Step one: Decide how much you can afford
This is a function of a couple things. 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: complete a pre-qualification
This step is where Amity Mortgage LLC will start saving you money. You will give us information about your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. When we review this information we give you a letter of pre-qualification. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new house with your agent, we find the best program for you.
After you've made an offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our website. At the end of this step, we'll order an appraisal of your new home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to make sure all the papers your lender will require are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company on your date to close. Because you will not have to worry with this coordination, you can think about the move, if you're going to repaint, new carpet, and the details involved in getting your new home.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving! We do the mortgage legwork so you can focus on finding your new home.
Have questions about the loan process? Call Amity Mortgage LLC at 2037296681. It's our job to answer lending questions, so we're happy to help!