The Loan Process: an Overview
There is little question ; getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if it were possible to 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.
There are four primary steps involved in obtaining a mortgage loan.
Step one: determine how much you can borrow
This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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: pre-qualify for your loan
This is where the process really begins and you save the most money. You will give us info about your current job, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. We will go over this information and will provide a letter of pre-qualification. 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 house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have signed an offer and the sellers accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we'll 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 work with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe work with with this company on your closing date. Because you won't have to coordinate this process, you get to think about moving, painting, new carpet, and all the details of moving into your new house.
You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving! 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 (813) 200-7931. It's our job to answer lending questions, so we're happy to help!