The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

Make no mistake, there's quite a lot to do in oder to get a mortgage. 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 home loan involves four major steps.

Step one: Decide how much you can afford

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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 step is where Augusta Mortgage Solutions will begin saving you money. You will supply details on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it is a great tool for buying your new home! Your real estate agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an 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 from the comfort of your home 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: funding

Your REALTOR® and the seller's will coordinate to designate a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company to set your date of closing. Because you won't have to worry with this coordination, you can concentrate on the move, paint colors, new carpet, and the details involved in moving into a new home.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! Augusta Mortgage Solutions is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Augusta Mortgage Solutions at 7068605514. It's our job to answer lending questions, so we're happy to help!