The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
There's little doubt that getting a mortgage is a complicated process. You wouldn't be here on our site if you could complete a one-page loan app and get an excellent 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.
Getting a mortgage loan involves four major milestones.
Step one: Decide on your maximum loan amount
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. 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 step is where Sky Apply Mortgage, Inc can begin to save you money. You will supply info on 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. We'll go over all this information then will give you a letter of pre-qualification. Your real estate agent should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for a new house with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. When the time is right, we'll order the appraisal of your new home.
Step four: your loan is funded
The agents will find an escrow/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 needs are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Because you won't have to worry about these details, you get to think about moving logistics, painting, carpet, and the details involved in moving into your new home.
You've answered a few questions, provided detailed information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Sky Apply Mortgage, Inc at (813) 200-7931. We answer questions about the loan process every day.