About the Loan Process
There's little question that getting a mortgage is a complex process. You wouldn't be visiting our website if you could fill out a simple application and receive a great loan check cut 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.
There are four important steps involved in obtaining a loan.
Step one: determine how much you can borrow
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: complete a pre-qualification
This is where the rubber meets the road and Tier One Mortgage, LLC can really save you money. You will supply details about your current job, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). We will review all this info then will give you a letter of pre-qualification. Be careful with this letter — it is a useful tool for buying your new home! Your agent will use your 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 looking for your new house with your REALTOR™, we find the best program for you.
Once you have made the offer and the sellers accept it, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply right here on our site. At the end of this step, we will order an appraisal of your new home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to ensure the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company on your date to close. Because you don't need to coordinate this process, you get to think about moving logistics, paint colors, new carpet, and the fun parts of getting your new home.
You've answered some few questions, given us lots of information, applied online, and Before you know it, you're moving in! We take care of the mortgage legwork 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 (585) 282-0960. Tier One Mortgage, LLC answers loan process questions every day.