An Overview of the Mortgage Loan Process
||Shopping for a mortgage loan? We will be glad to assist you! Call us at 866-313-0412. Ready to get started? Apply Here.
There is no doubt that getting a mortgage loan is a complicated process. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out a simple application. 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 amount using the calculators on our website. 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 step is where Ace One Mortgage LLC will start to save you money. You will supply details about your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed this information, we'll give you a pre-qualification letter. Your REALTOR® should use the 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 the home that's right for you, we are finding the loan that best fits your needs.
Once you have made the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender requires are available, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your date to close. Since you won't have to worry about these details, you get to think about moving logistics, paint colors, carpet, and the fun parts of moving into a new house.
You've answered some few questions, provided lots of information, applied , and the next thing you know, you're deciding when to move in! We take care of all 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 Ace One Mortgage LLC at 866-313-0412. Ace One Mortgage LLC answers loan process questions every day.