An Overview of the Mortgage Loan Process

	In the market for a new mortgage loan? We'll be glad to talk about your mortgage needs! Call us at (585) 872-1486. Ready to begin? Apply Online Now.

No doubt, quite a lot involved in order to get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a loan in one day with a simple application. We do most of 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 home loan involves four major steps.

Step one: Decide how much you can afford

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. 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: complete a pre-qualification

This is where Tier One Mortgage, LLC can start to save you money. You will give us info on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we have reviewed this information we provide a letter of pre-qualification. Be careful with this letter — it is a useful tool when you make your offer! Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure all the papers your lender will require are available, and you will probably}likely sign all these papers at this company's officeWe work with with this company to set your closing date. Because you will not have to worry about these details, you can concentrate on moving, if you're going to repaint, new carpet, and the fun parts of getting a new home.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you're moving! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call Tier One Mortgage, LLC at (585) 872-1486. Tier One Mortgage, LLC answers loan process questions every day.