How the Loan Process Works
There can be no doubt that getting a mortgage is a complex process. You wouldn't be here on our site if it were possible to complete a one-page application and get a great loan check cut the same day. But Sky Apply Mortgage, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a mortgage 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? 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. 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: complete a pre-qualification
This is where Sky Apply Mortgage, Inc can start saving you money. You will give us info about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. We'll go over this info and will give you a letter of pre-qualification. Be careful with this letter — it can be a great tool for buying your new home! Your agent will use the 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 house with your REALTOR™, we find the best program for you.
Once you have 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. Finally, we will order an appraisal of your new home.
Step four: funding
The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, 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 won't need to worry with this coordination, you can concentrate on moving logistics, paint colors, carpet, and the details involved in moving into your new house.
You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! Sky Apply Mortgage, Inc is in the business of loans; you're not — so we do the work. Doesn't that sound nice?
Have questions about the loan process? Call Sky Apply Mortgage, Inc at 8132007931. We answer questions about the loan process every day.