How the Loan Process Works

There's a lot to do in oder to get a mortgage. You would not be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four main steps involved in obtaining a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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? Use the calculators on our website to determine your monthly payment amount. 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 is where the process really begins and you save the most money. You will provide details about your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out your new home, we are looking for the loan that best fits your needs.

Step three: apply now! We make it easy

After you've signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe coordinate with the title company on your date of closing. Since you will not have to worry with this coordination, you can think about the move, if you're going to repaint, carpet, and all the details of getting a new house.

You've answered some few questions, provided detailed information, applied online, 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 Sky Apply Mortgage, Inc at 8132007931. Sky Apply Mortgage, Inc answers loan process questions every day.