About the Loan Process
There's no doubt ; getting a mortgage is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a loan in one day by filling out 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.
Getting a loan involves four major steps.
Step one: Decide on your maximum loan amount
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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 the rubber meets the road and The Mortgage Firm - Team Meyers can really save you money. You will give us details on your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — 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 deciding on the home that's right for you, we are finding the best loan for you.
Step three: apply now! We make it easy
Once you have made the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. Finally, we'll order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to decide on an escrow/title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your date of closing. Because you will not need to coordinate this process, you get to concentrate on the move, paint colors, new carpet, and the fun parts of getting your new home.
You've answered a few questions, given us lots of information, applied online, and the next thing you know, you're deciding when to move in! We take care of all the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call The Mortgage Firm - Team Meyers at (407) 889-4321. The Mortgage Firm - Team Meyers answers loan process questions every day.