The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There is no question that getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to fill out a one-page loan app and receive the best loan funded in one day. But Augusta Mortgage Solutions does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in getting a loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. 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? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan
This is where Augusta Mortgage Solutions will begin saving you money. You will provide info on your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Your agent will use the pre-qual (as they may call it) in order 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.
Once you have made the offer and it's been accepted, it's time to complete the loan application. Applying for a loan could not be much easier; you can apply online right here on our site. When the time is right, we will order an appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the seller's will work together to decide on a title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to coordinate with this company to set your date of closing. Because you will not need to coordinate this process, you can think about moving logistics, painting, carpet, and the fun parts of getting your new home.
You've answered a few questions, provided lots of information, applied online, and before you know it, you're deciding when to move in! We do the 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 706-860-5514. Augusta Mortgage Solutions answers loan process questions every day.