About the Mortgage Loan Process
No doubt, quite a lot involved in oder to get a mortgage. 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 Milestone Mortgage a Division of The Mortgage Company does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in obtaining a 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: pre-qualify for your loan
This is where the process really begins and Milestone Mortgage a Division of The Mortgage Company can really save you money. You will provide details on your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out your new home, we are finding the loan that best fits your needs.
Step three: apply now! We make it easy
Once you have signed an offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our website. When the time is right, we will order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your closing date. Because you will not need to worry about these details, you get to think about the move, if you're going to repaint, new carpet, and the fun parts of moving into a new home.
You've answered some few questions, given us detailed information, applied online, and before you know it, you are deciding when to move in! Milestone Mortgage a Division of The Mortgage Company is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call Milestone Mortgage a Division of The Mortgage Company at (303) 877-0415. Milestone Mortgage a Division of The Mortgage Company answers loan process questions every day.