The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There can be little doubt ; getting a mortgage loan is a complex process. You wouldn't be here on our site if it were possible to fill out a one-page loan app and receive the best loan funded in one 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? 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. 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 step is where Amity Mortgage LLC will begin to save you money. You will give us info on your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. When we review all this information we will give you a letter of pre-qualification. Your real estate agent will 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 are looking for the best loan for you.
Once you've made an offer and it's been accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company to set your date of closing. Since you will not need to worry with this coordination, you get to concentrate on moving logistics, paint colors, carpet, and the details involved in getting your new home.
You've answered some few questions, provided lots of information, applied , and before you know it, you're moving in! Amity Mortgage LLC is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Amity Mortgage LLC at 2037296681. Amity Mortgage LLC answers loan process questions every day.