The Mortgage Loan Process: an Overview

No doubt, a lot to do in oder to get a mortgage loan. You wouldn't be visiting our site if you could complete a one-page loan app and receive an excellent loan funded the same day. 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 obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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: complete a pre-qualification

This is where the process really begins and you save the most money. You will provide details about your current job, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We run your credit score and report. We'll review all this information and give you a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our website. When the time is right, we will order the appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your date to close. Because you don't have to worry with this coordination, you get to think about moving logistics, painting, carpet, and the fun parts of moving into your new house.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving in! Sky Apply Mortgage, Inc is a mortgage specialist; 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 (813) 200-7931. It's our job to answer lending questions, so we're happy to help!

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