About the Loan Process
There is little doubt ; getting a mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to fill out a simple loan application and receive a great loan funded 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 loan involves four major steps.
Step one: Decide on your maximum loan amount
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. 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 the rubber meets the road and The Mortgage Firm - Team Meyers can really save you money. You will give us details on your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. After we have reviewed all this information we will provide a pre-qualification letter. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new home, we're busy researching the loan program that's right for you.
Step three: apply now! We make it easy
Once you have signed the offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the 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 make sure all the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company to set your date to close. Since you will not have to coordinate this process, you get to concentrate on the move, painting, new carpet, and the fun parts of getting a new house.
You've answered a few questions, provided lots of information, applied online, and before you know it, you're moving in! The Mortgage Firm - Team Meyers is a mortgage specialist; you're not — so we do the work. Doesn't that sound nice?
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.