About the Mortgage Loan Process
There's quite a lot involved when you get a mortgage loan. You wouldn't be looking up loan information if you could get a mortgage loan in one day with a simple application. 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 mortgage loan involves four major steps.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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: complete a pre-qualification
This is where the rubber meets the road and Augusta Mortgage Solutions can really save you money. You will supply information about your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission. When we review all this information we will provide a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we are researching the best loan for you.
Once you have signed an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Since you will not need to worry about these details, you can concentrate on the move, painting, carpet, and the details involved in moving into a new home.
You've answered a few questions, given us detailed information, applied , and the next thing you know, you're moving in! We do the mortgage legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Augusta Mortgage Solutions at 7068605514. Augusta Mortgage Solutions answers loan process questions every day.