The Mortgage Loan Process: an Overview
There's no question ; getting a mortgage loan is a complicated process. You wouldn't be here on our site if you could complete a simple application and get the best loan check cut in one day. We do most of 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 milestones.
Step one: determine how much you can borrow
A couple of factors determine this amount. 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. 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: pre-qualify for your loan
This is where Augusta Mortgage Solutions will start saving you money. You will supply information on your current job, your assets, and your 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, of course). After we have reviewed all this info we provide a pre-qualification letter. Your agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we are finding the loan that best fits your needs.
Step three: apply now! We make it easy
Once you've made an offer and it's been accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your date to close. Because you don't have to worry with this coordination, you can concentrate on moving, painting, carpet, and the fun parts of moving into a new home.
You've answered some few questions, given us lots of information, applied , and Before you know it, you're moving in! We take care of all the loan details so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Augusta Mortgage Solutions at 706-860-5514. We answer questions about the loan process every day.