The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
No doubt, a lot to do when you get a mortgage loan. You wouldn't be visiting our site if you could complete a one-page loan app and get the best loan funded in one day. But Augusta Mortgage Solutions does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a 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? 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 you save the most money. You will supply info about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are looking for the best loan program for you.
Once you have made an offer and it's been accepted, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe work with with the title company on your date to close. Since you won't have to coordinate this process, you can think about the move, if you're going to repaint, new carpet, and the fun parts of moving into a new house.
You've answered some few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! Augusta Mortgage Solutions is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Augusta Mortgage Solutions at 7068605514. Augusta Mortgage Solutions answers loan process questions every day.