About the Mortgage Loan Process
There can be no question ; getting a mortgage is a complex process. You wouldn't be here on our website if you could fill out a simple loan app and receive the best loan check cut the same day. But Milestone Mortgage, Inc. NMLS#136714 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a mortgage 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? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: complete a pre-qualification
This is where the rubber meets the road and you save the most money. You will provide details about your current job, assets, and 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). When we review this information we will provide a pre-qualification letter. Be careful with this letter — it is a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new house with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with the title company on your date to close. Because you won't need to worry with this coordination, you can think about moving logistics, paint colors, new carpet, and the details involved in getting your new home.
You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving in! We do the mortgage legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Milestone Mortgage, Inc. NMLS#136714 at 3175959600. We answer questions about the loan process every day.