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

There's little question that getting a mortgage loan is a complex process. You wouldn't be looking up loan information if it were possible to get a mortgage loan in one day by filling out a simple application. 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 important steps involved in getting a loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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? 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. 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: pre-qualify for your loan

This step is where Tier One Mortgage, LLC will start saving you money. You will give us info about your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. We will go over all this info then will provide a letter of pre-qualification. Handle it with care — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a 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. Applying for a loan could not be much easier; you can apply right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your date of closing. Since you won't have to coordinate this process, you can concentrate on the move, painting, new carpet, and the fun parts of getting your new house.

You've answered some few questions, provided lots of information, applied , and before you know it, you are deciding when to move in! Tier One Mortgage, LLC is a mortgage specialist; you're not — so we take care of the details. 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.