The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps

There can be no question ; getting a mortgage is a complicated process. You wouldn't be visiting our site if you could fill out a simple loan app and get the best loan check cut the same day. But Tier One Mortgage, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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 is where the process really begins and Tier One Mortgage, LLC can really save you money. You will supply information on your current job, assets, and your residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home, we're busy finding the loan that's just right for your unique situation.

Step three: apply for your loan

After you've made an offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. When the time is right, we'll order the appraisal of your new home.

Step four: your loan is funded

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 all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with this company on your date to close. Since you will not have to coordinate this process, you can think about moving, paint colors, carpet, and all the details of moving into your new home.

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

Have questions about the loan process? Call Tier One Mortgage, LLC at (585) 282-0960. We answer questions about the loan process every day.