The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
No doubt, quite a lot involved in oder to get a mortgage loan. You wouldn't be here on our website if it were possible to fill out a one-page loan app and get the best loan check cut the same day. We do most of 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 on your maximum loan amount
A couple of factors determine this amount. 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: complete a pre-qualification
This is where the process really begins and you save the most money. You will give us details about your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new house with your REALTOR™, we find the best program for you.
Once you've made the offer and it's been accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our site. At the end of this step, we'll order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to decide on a title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with this company on your closing date. Since you won't need to worry about these details, you can think about moving logistics, paint colors, new carpet, and the details involved in getting your new home.
You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving! We take care of all the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call Amity Mortgage LLC at 2037296681. It's our job to answer lending questions, so we're happy to help!