The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
No doubt, quite a lot involved when you get a mortgage. You wouldn't be here on our site if it were possible to complete a one-page application and receive a great loan check cut the same 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.
There are four main steps involved in obtaining a mortgage loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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. 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: pre-qualify for your loan
This is where the process really begins and Augusta Mortgage Solutions can really save you money. You will supply info about your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. We'll review all this information then give you a letter of pre-qualification. 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 loan that best fits your needs.
Once you have signed the offer and the sellers accept it, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. Finally, we will order the appraisal of your new home.
Step four: funding
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 the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company on your date of closing. Because you will not need to coordinate this process, you get to think about the move, if you're going to repaint, carpet, and the fun parts of getting your new home.
You've answered a few questions, given us lots of information, applied , and the next thing you know, you're moving in! Augusta Mortgage Solutions is in the business of mortgage loans; 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. We answer questions about the loan process every day.