An Overview of the Loan Process
There's little question that getting a mortgage is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in a single day with a simple application. But Affinity Mortgage Brokers does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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: pre-qualify for your loan
This step is where Affinity Mortgage Brokers will start saving you money. You will supply details on your current job, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). We'll go over this info then will give you a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out the home that's right for you, we're busy finding the loan that's right for you.
Step three: apply now! We make it easy
Once you've made an offer and it's been accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to find a title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your closing date. Because you don't need to worry with this coordination, you get to think about moving logistics, if you're going to repaint, carpet, and all the details of getting a new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! Affinity Mortgage Brokers is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Affinity Mortgage Brokers at 719-331-6278. Affinity Mortgage Brokers answers loan process questions every day.