How the Mortgage Loan Process Works

There is no question ; getting a mortgage is a complicated process. You wouldn't be here on our website if you could fill out a simple mortgage application and receive an excellent loan check cut in one day. But Tier One Mortgage, LLC 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. 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: pre-qualify for your loan

This step is where Tier One Mortgage, LLC can begin saving you money. You will supply details about your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out the home that's right for you, we are finding the best loan program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, it's time to complete the loan application. Applying for a loan could not be much easier; you can apply any time right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe work with with this company on your date of closing. Because you will not need to worry with this coordination, you can think about the move, if you're going to repaint, new carpet, and the details involved in getting your new house.

You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving! Tier One Mortgage, LLC is in the business of loans; you're not — so we do the work. Doesn't that sound nice?

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!