An Overview of the Mortgage Loan Process
There's quite a lot involved in oder to get a mortgage loan. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. 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 loan involves four major steps.
Step one: Decide how much you can afford
A couple of factors determine this amount. 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? 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: complete a pre-qualification
This is where the process really begins and Sky Apply Mortgage, Inc can really save you money. You will give us info about your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed this information, we'll give you a pre-qualificaiton letter. Your agent will use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your real estate agent, we find the best program for you.
Once you have made an offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. Finally, we will order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing. We'll coordinate 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 their officeWe do all the work to work with with the title company to set your closing date. Because you will not have to worry about these details, you get to concentrate on moving logistics, paint colors, new carpet, and the details involved in moving into a new house.
You've answered a few questions, given us detailed information, applied , and before you know it, you are moving in! Sky Apply Mortgage, Inc is in the business of loans; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call Sky Apply Mortgage, Inc at 8132007931. We answer questions about the loan process every day.