The Four Steps of the Loan Process:The Loan Process: Four Steps
No doubt, a lot to do when you get a mortgage loan. You would not be looking up loan information if it were possible to get a loan in one day with a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
There are four primary steps involved in obtaining a mortgage loan.
Step one: Decide how much you can afford
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? 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: pre-qualify for your loan
This is where the process really begins and Augusta Mortgage Solutions can really save you money. You will supply info on your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are looking for the loan that best fits your needs.
Step three: apply now! We make it easy
After you've made the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, 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 a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign all these papers at their officeWe work with with the title company to set your closing date. Because you don't have to worry about these details, you get to think about the move, painting, carpet, and the fun parts of moving into a new house.
You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving! 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 7068605514. Augusta Mortgage Solutions answers loan process questions every day.