The Four Steps of the Loan Process:The Loan Process: Four Steps

No doubt, quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if you could complete a simple application and receive a great loan check cut in one day. We do most of 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 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? 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. 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 the process really begins and Sky Apply Mortgage, Inc can really save you money. You will supply information about your current job, assets, and your 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. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your REALTOR® will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed the 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 a professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure all the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to coordinate with this company to set your closing date. Because you will not need to coordinate this process, you can think about moving logistics, paint colors, new carpet, and the details involved in moving into your new home.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! We take care of the loan details so you can focus on finding your new home.

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!