An Overview of the Mortgage Loan Process
Looking for a mortgage loan? We'll be glad to discuss your mortgage needs! Call us at 727-393-9399. Want to get started? Apply Here
There's a lot involved when you get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a simple mortgage application and receive the best loan check cut in one day. But America's Mortgage Link, Inc. NMLS#210275 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a home loan involves four major milestones.
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? 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 the rubber meets the road and you save the most money. You will give us info about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. We will go over all this information then will provide a pre-qualification letter. Your agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we're busy finding the loan program that's right for your unique situation.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply online right here on our site. Finally, we'll order the appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender will require are available, and you'll probably}likely sign everything at their officeWe work with with the title company to set your date of closing. Because you don't have to worry about these details, you get to concentrate on moving, painting, new carpet, and the details involved in getting a new home.
You've answered some few questions, provided lots of information, applied , and the next thing you know, you're deciding when to move in! America's Mortgage Link, Inc. NMLS#210275 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 America's Mortgage Link, Inc. NMLS#210275 at 727-393-9399. America's Mortgage Link, Inc. NMLS#210275 answers loan process questions every day.