How the Mortgage Loan Process Works
There's little doubt that getting a mortgage loan is a complex process. You wouldn't be looking up loan information if you could get a loan in a single day by filling out a simple application. But Augusta Mortgage Solutions does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a loan.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 can begin to save you money. You will supply details about your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). After we have gone over this information we give you a letter of pre-qualification. Handle it with care — it is a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new house with your real estate agent, we find the best program for you.
Once you have made an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we will order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender will need are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company to set your closing date. Since you won't need to worry with this coordination, you can concentrate on the move, if you're going to repaint, carpet, and all the details of moving into a new house.
You've answered a few questions, given us detailed information, applied online, and the next thing you know, you're moving in! Augusta Mortgage Solutions is in the business of mortgage loans; you're not — so we do the work. Doesn't that sound nice?
Have questions about the loan process? Call Augusta Mortgage Solutions at 706-860-5514. Augusta Mortgage Solutions answers loan process questions every day.