The Four Steps of the Loan Process:The Loan Process: Four Steps
There is no doubt that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a loan in one day with a simple application. 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 steps.
Step one: Decide how much you can afford
A couple of factors determine this amount. 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. 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: pre-qualify for your loan
This step is where Sky Apply Mortgage, Inc can begin to save you money. You will provide info on your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Your REALTOR® will use your 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 looking for your new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
After you've signed an offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order the professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together to decide on a title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender requires are in order, and you will probably}likely sign all these papers at this company's officeWe work with with this company to set your closing date. Since you don't have to worry with this coordination, you get to concentrate on moving logistics, paint colors, carpet, and the fun parts of moving into your new house.
You've answered a few questions, given us detailed information, applied online, and before you know it, you're moving in! We take care of the mortgage legwork 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.