How the Loan Process Works

There's quite a lot involved in oder to get a mortgage loan. You wouldn't be here on our website if you could complete a one-page mortgage application and get an excellent loan funded in one day. 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.

There are four primary steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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. 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 will start saving you money. You will supply info on your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Your agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're deciding on the home that's right for you, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

After you've signed the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the 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 coordinate with this company to make sure the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your date to close. Since you will not have to coordinate this process, you get to concentrate on moving logistics, paint colors, carpet, and all the details of moving into a new home.

You've answered a few questions, provided lots of information, applied online, and the next thing you know, you're moving in! Tier One Mortgage, LLC is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Tier One Mortgage, LLC at 5852820960. Tier One Mortgage, LLC answers loan process questions every day.