About the Mortgage Loan Process
There's quite a lot involved when you get a mortgage. You would not be looking up loan information if you could get a loan in one day by filling out 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 loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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 is where Sky Apply Mortgage, Inc will start to save you money. You will supply info on your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). We will review all this information then give you a pre-qualification letter. Handle it with care — it is a great 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 shopping for a new home with your real estate agent, we find the best program for you.
Once you have made an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will work together to find an escrow/title company to take care of the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe work with with this company on your date to close. Since you will not need to coordinate this process, you can think about moving logistics, if you're going to repaint, carpet, and the fun parts of moving into your new home.
You've answered some few questions, given us lots of information, applied , and the next thing you know, you are moving in! Sky Apply Mortgage, Inc is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Sky Apply Mortgage, Inc at 8132007931. It's our job to answer lending questions, so we're happy to help!