About the Mortgage Loan Process
There's a lot to do when you get a mortgage loan. You would not be researching mortgage loans if you could get a loan in a single day with a simple application. 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.
There are four main steps involved in getting a mortgage loan.
Step one: Decide how much you can afford
This is a function of a couple things. 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. 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 the rubber meets the road and you save the most money. You will supply information about your current job, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission. We'll go over this information then will provide a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on 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 have made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender requires 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. Because you don't need to worry about these details, you get to think about moving, painting, new carpet, and the details involved in getting a new home.
You've answered some few questions, provided lots of information, applied , and the next thing you know, you are moving in! Augusta Mortgage Solutions is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call Augusta Mortgage Solutions at 706-860-5514. It's our job to answer lending questions, so we're happy to help!