About the Mortgage Loan Process
No doubt, a lot to do in oder to get a mortgage. You wouldn't be looking up loan information if you could get a mortgage loan in one day with a simple application. 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.
There are four primary steps involved in getting 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. 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: pre-qualify for your loan
This is where the rubber meets the road and you save the most money. You will give us details about your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. We'll go over all this info and provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we're busy finding the loan program that's right for your situation.
Step three: apply now! We make it easy
After you've made the 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. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender needs are in order, and you will probably}likely sign everything at this company's officeWe work with with the title company on your date of closing. Since you will not have to worry about these details, you can think about moving logistics, paint colors, carpet, and the fun parts of moving into a new home.
You've answered some few questions, given us detailed information, applied online, and the next thing you know, you are deciding when to move in! We take care of all the loan details so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Sky Apply Mortgage, Inc at (813) 200-7931. We answer questions about the loan process every day.