The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

No doubt, a lot to do when you get a mortgage. You would not be researching mortgage loans if it were possible to get a loan in a single day by filling out 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 mortgage loan.

Step one: determine how much you can borrow

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? 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 Sky Apply Mortgage, Inc will start saving you money. You will give us info about your current job, assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your REALTOR® should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home, we're busy researching the loan program that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Since you will not need to worry with this coordination, you get to concentrate on the move, paint colors, carpet, and the fun parts of getting your new home.

You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving 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 8132007931. Sky Apply Mortgage, Inc answers loan process questions every day.