The Loan Process: an Overview
There can be no doubt that getting a mortgage loan is a complex process. You wouldn't be here on our website if it were possible to complete a one-page application 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.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
A couple of factors determine this amount. 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. 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 is where Augusta Mortgage Solutions will begin saving you money. You will supply info on your employment, your assets, and 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've finished reviewing your information, we'll provide a pre-qualificaiton letter. Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not be much easier; you can apply online right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company to set your date to close. Since you don't have to worry with this coordination, you can think about moving, if you're going to repaint, new carpet, and all the details of moving into your new home.
You've answered some few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! Augusta Mortgage Solutions is a mortgage specialist; 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. We answer questions about the loan process every day.