The Mortgage Loan Process: an Overview
There's quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if you could fill out a one-page loan app and get an excellent 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 steps.
Step one: Decide on your maximum loan amount
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: complete a pre-qualification
This is where the process really begins and you save the most money. You will supply info about your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a great tool for buying your new home! Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for a new home with your agent, we find the best program for you.
Once you have made the offer and it's been accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply any time 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
Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company to set your closing date. Since you won't need to worry about these details, you can think about the move, if you're going to repaint, carpet, and the fun parts of getting your new home.
You've answered a few questions, given us lots of information, applied online, and before you know it, you are moving in! Amity Mortgage LLC is in the business of loans; 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 (203) 729-6681. We answer questions about the loan process every day.