The Mortgage Loan Process: an Overview

There's a lot to do in oder to get a mortgage loan. You wouldn't be looking up loan information if you could get a loan in one day with a simple application. We do 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 mortgage loan involves four major steps.

Step one: Decide how much you can afford

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. 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: pre-qualify for your loan

This step is where Amity Mortgage LLC can begin saving you money. You will provide details on your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new house with your real estate agent, we find the best program for you.

Step three: apply for your loan

After you've made an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your closing date. Because you don't have to worry with this coordination, you get to think about the move, if you're going to repaint, new carpet, and the details involved in moving into your new house.

You've answered a few questions, given us detailed information, applied online, and the next thing you know, you're moving in! We take care of the legwork so you can spend your time finding the new home that's right for you.

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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