The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There is no doubt that getting a mortgage loan is a complex process. You wouldn't be visiting our site if you could fill out a simple loan application and get an excellent 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 home loan involves four major milestones.
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? 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 will start to save you money. You will provide details on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed your information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool when you make your offer! Your REALTOR® will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy researching the loan program that's just right for you.
Once you have made the offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.
Step four: funding
The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your date of closing. Because you will not need to worry with this coordination, you can concentrate on moving logistics, if you're going to repaint, carpet, and all the details of getting your new home.
You've answered some few questions, provided lots of information, applied , and Before you know it, you're moving! We take care of the legwork so you can spend your time 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.