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

There can be little doubt that getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to complete a simple application and receive the best loan check cut the same day. 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.

Getting a home loan involves four major milestones.

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? 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. 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 can start to save you money. You will provide info about your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. When we review all this information we will provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out your new home, we are researching the best loan program for you.

Step three: apply for your loan

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

Step four: your loan is funded

The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company to set your date of closing. Because you don't have to worry with this coordination, you can concentrate on moving logistics, paint colors, carpet, and the fun parts of getting a new house.

You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving! Sky Apply Mortgage is in the business of mortgage loans; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Sky Apply Mortgage at (813) 200-7931. Sky Apply Mortgage answers loan process questions every day.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question