An Overview of the Loan Process
There is no doubt that getting a mortgage is a complicated process. You wouldn't be visiting our website if you could fill out a one-page mortgage application and get an excellent loan funded in one day. 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 steps.
Step one: Decide how much you can afford
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: complete a pre-qualification
This is where the process really begins and Sky Apply Mortgage, Inc can really save you money. You will supply details about 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 (with your permission. After we have reviewed all this information we give you a letter of pre-qualification. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new home, we're busy researching the loan that's right for your situation.
Once you've made the offer and the sellers have accepted, you should complete the loan application. Applying for a loan could not be much easier; you can apply online right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will work together to find an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe work with with this company to set your closing date. Because you won't need to worry with this coordination, you get to concentrate on moving logistics, paint colors, new carpet, and the fun parts of getting a new home.
You've answered a few questions, given us detailed information, applied online, and the next thing you know, you are deciding when to move 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.