About the Mortgage Loan Process

No doubt, a lot involved when you get a mortgage. You wouldn't be researching mortgage loans if you could get a loan in a single day by filling out 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 milestones.

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? 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 is where the process really begins and you save the most money. You will give us details on your current job, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! Your agent should use the pre-qual (as they may call it) 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 home, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

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

Step four: your loan is funded

Your REALTOR® and the seller's will work together to decide on an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your date to close. Since you won't have to worry with this coordination, you get to concentrate on the move, paint colors, carpet, and all the details of moving into your new house.

You've answered some few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! 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. Tier One Mortgage, LLC answers loan process questions every day.