The Loan Process: an Overview
Make no mistake, there's quite a lot to do in oder to get a mortgage loan. You wouldn't be looking up loan information if it were possible to get a mortgage loan in a single day with a simple application. We do 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 important steps involved in obtaining a mortgage loan.
Step one: Decide how much you can afford
This is a function of a couple things. 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. 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 start to save you money. You will provide details on 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 will go over all this information and provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new house with your real estate agent, we find the best program for you.
Once you've made an offer and it's been accepted, it's time to complete the loan application. Applying for a loan couldn't 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
Your real estate agent and the seller's will coordinate to decide on an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you will probably}likely sign all these papers at this company's officeWe work with with the title company to set your closing date. Because you won't have to worry with this coordination, you can think about moving, paint colors, new carpet, and all the details of getting your new home.
You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving in! Augusta Mortgage Solutions is in the business of 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.