About the Loan Process
There's little doubt ; getting a mortgage is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out 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.
Getting a mortgage loan involves four major steps.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. 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 Mortgage Firm - Team Meyers will start to save you money. You will provide information on your current job, assets, and 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. After we have gone over all this information we give you 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're busy finding the loan program that's just right for your unique situation.
Once you've made an offer and it's been accepted, you should complete the loan application. Applying for your loan could not get much easier; you can apply online right here on our site. After the seller has accepted your offer and you have applied for your loan, we will 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 of the sale. We'll work with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with this company to set your date to close. Since you will not need to coordinate this process, you get to concentrate on moving logistics, paint colors, new carpet, and the fun parts of moving into a new home.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! We do the mortgage legwork so you can spend your time finding your new home.
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.