The Mortgage Loan Process: an Overview
There's little doubt that getting a mortgage is a complex process. You wouldn't be researching mortgage loans if it were possible to get a loan in a single 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.
There are four main steps involved in getting a mortgage loan.
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. 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 can start saving you money. You will give us info on your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. When we review this information we will give you a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! Your REALTOR® 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 a new house with your REALTOR™, we find the best program for you.
Once you have 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: funding
The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your date of closing. Since you will not have to worry about these details, you get to think about the move, paint colors, new carpet, and the details involved in moving into your new house.
You've answered some few questions, given us detailed information, applied online, and before you know it, you're deciding when to move in! 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. Amity Mortgage LLC answers loan process questions every day.