How the Loan Process Works
No doubt, quite a lot involved when you get a mortgage. You would not be researching mortgage loans if it were possible to get a loan in one day by filling out a simple application. But Sky Apply Mortgage, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major milestones.
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? 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 Sky Apply Mortgage, Inc can really save you money. You will provide information on your current job, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. Your agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new house with your real estate agent, we find the best program for you.
Once you have made an offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. Finally, we will order an appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your date of closing. Since you don't have to worry with this coordination, you can concentrate on moving, paint colors, new carpet, and all the details of getting your new house.
You've answered some few questions, provided lots of information, applied , and the next thing you know, you're moving in! We take care of the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call Sky Apply Mortgage, Inc at (813) 200-7931. We answer questions about the loan process every day.