The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There's no doubt that getting a mortgage is a complicated process. You wouldn't be here on our site if you could complete a simple application and receive the best loan funded the same day. But AAA Mortgage LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major milestones.
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? Use the calculators on our website to determine your monthly payment amount. 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: pre-qualify for your loan
This is where AAA Mortgage LLC can begin to save you money. You will give us details about your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new house with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have signed the offer and the sellers accept it, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply any time right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure all the papers your lender will require are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company on your date of closing. Because you will not have to worry with this coordination, you get to concentrate on the move, paint colors, carpet, and the details involved in getting a new house.
You've answered a few questions, provided lots of information, applied online, and before you know it, you're moving in! We take care of 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 AAA Mortgage LLC at 816-272-5550. AAA Mortgage LLC answers loan process questions every day.