The Mortgage Loan Process: an Overview

There can be no question ; getting a mortgage is a complicated process. You wouldn't be here on our site if it were possible to complete a simple application and receive the best loan funded 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.

Getting a mortgage loan involves four major steps.

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? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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 Augusta Mortgage Solutions will begin saving you money. You will give us information on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company to set your date of closing. Since you won't have to worry about these details, you can concentrate on the move, painting, carpet, and the details involved in moving into your new home.

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 in the business of loans; you're not — so we do the work. 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.