The Loan Process: an Overview
There's quite a lot to do in oder to get a mortgage loan. You would not be researching mortgage loans if it were possible to get a mortgage loan in one 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 milestones.
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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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 can start saving you money. You will give us details on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. We'll review this information then will provide a pre-qualification letter. Handle it with care — it can be a great tool when you make your offer! Your agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're deciding on your new home, we're busy finding the loan that's just right for you.
Once you've made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company on your date of closing. Since you won't need to worry with this coordination, you get to think about moving logistics, paint colors, carpet, and the fun parts of moving into your new house.
You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving in! Amity Mortgage LLC is a mortgage specialist; 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. It's our job to answer lending questions, so we're happy to help!