The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There is no doubt ; getting a mortgage is a complicated process. You wouldn't be visiting our site if it were possible to complete a simple application and get an excellent loan check cut in one day. 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.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. 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 step is where Augusta Mortgage Solutions can begin saving you money. You will give us information about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for a new house with your real estate agent, we find the best program for you.
Once you have made an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't get much easier; you can apply from the comfort of your home right here on our site. When the time is right, we'll order the appraisal of your new home.
Step four: funding
The real estate agents will find a title company to handle the "funding" 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 their officeWe coordinate with this company to set your date of closing. Since you don't need to worry about these details, you can concentrate on moving, paint colors, new carpet, and the fun parts of getting your new home.
You've answered a few questions, provided lots of information, applied , and the next thing you know, you are moving in! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Augusta Mortgage Solutions at 7068605514. Augusta Mortgage Solutions answers loan process questions every day.