The Mortgage Loan Process: an Overview
There's no doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our site if you could fill out a simple loan app and get a great loan funded in one day. But Sky Apply Mortgage, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major milestones.
Step one: determine how much you can borrow
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? 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 the rubber meets the road and Sky Apply Mortgage, Inc can really save you money. You will provide details about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we have gone over this info we provide a letter of pre-qualification. Be careful with this letter — it can be a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new home with your agent, we find the best program for you.
Once you have made the offer and it's been accepted, it's time to complete the loan application. It's very easy, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure all the papers your lender will require are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company on your date to close. Since you don't have to coordinate this process, you can concentrate on moving logistics, painting, carpet, and the fun parts of getting your new home.
You've answered some few questions, provided lots of information, applied online, 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 your new home.
Have questions about the loan process? Call Sky Apply Mortgage, Inc at (813) 200-7931. Sky Apply Mortgage, Inc answers loan process questions every day.