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

No doubt, a lot to do in oder to get a mortgage. You wouldn't be visiting our site if it were possible to complete a simple loan app and receive a great loan funded in one day. 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 loan involves four major milestones.

Step one: determine how much you can borrow

This is a function of a couple things. 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: pre-qualify for your loan

This is where Tier One Mortgage, LLC will begin to save you money. You will provide details on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your agent 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 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 the offer and it's been accepted, you should complete the loan application. Applying for your loan could not be much easier; you can apply online right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company on your date of closing. Because you will not need to coordinate this process, you get to think about the move, if you're going to repaint, new carpet, and the fun parts of getting your new house.

You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving in! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Tier One Mortgage, LLC at 5852820960. We answer questions about the loan process every day.