How the Mortgage Loan Process Works

Make no mistake, there's quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our site if you could fill out a simple mortgage application and receive the best loan funded the same day. But Sky Apply Mortgage, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: determine how much you can borrow

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? 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. 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 start to save you money. You will supply information on your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). When we review all this info we will provide a letter of pre-qualification. Your real estate agent will likely 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 looking for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply any time right here on our site. At the end of this step, we will order an appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing. We'll coordinate with this company to ensure 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 on your date to close. Since you don't have to worry with this coordination, you get to concentrate on moving, painting, carpet, and all the details of moving into your new home.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you'll be moving in! We take care of the loan details so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Sky Apply Mortgage, Inc at 8132007931. We answer questions about the loan process every day.

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