About the Mortgage Loan Process
No doubt, a lot involved when you get a mortgage loan. You would not be researching mortgage loans if you could get a mortgage loan in a single 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 steps.
Step one: determine how much you can borrow
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? 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 the process really begins and Tier One Mortgage, LLC can really save you money. You will provide details on your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. We'll go over all this info then give you a letter of pre-qualification. Your REALTOR® will likely use your 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 agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our website. When the time is right, we will order an appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan once it has been approved. We'll work with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe work with with this company to set your date to close. Since you don't need to worry with this coordination, you can think about the move, paint colors, new carpet, and the fun parts of moving into your new house.
You've answered a few questions, given us detailed information, applied online, and before you know it, you are deciding when to move in! Tier One Mortgage, LLC is in the business of loans; you're not — so we do the work. Doesn't that make sense?
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!