How the Loan Process Works

There's little question that getting a mortgage is a complex process. You wouldn't be researching mortgage loans if it were possible to get a loan in one day with a simple application. But Tier One Mortgage, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home 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. 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 Tier One Mortgage, LLC can start to save you money. You will supply info on your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're deciding on the home that's right for you, we're busy researching the loan that's right for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should complete the loan application. Applying for a loan could not be much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to ensure the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company on your date to close. Since you don't need to worry with this coordination, you can concentrate on moving logistics, paint colors, new carpet, and the details involved in moving into a new house.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving! Tier One Mortgage, LLC is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Tier One Mortgage, LLC at 5852820960. It's our job to answer lending questions, so we're happy to help!