About the Mortgage Loan Process
There's quite a lot involved when you get a mortgage loan. You would not be looking up loan information if you could get a loan in one day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a mortgage loan involves four major milestones.
Step one: Decide on your maximum loan amount
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 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: complete a pre-qualification
This step is where Affirm Home Loans can begin saving you money. You will give us details on your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we've reviewed this information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new house with your REALTOR™, 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, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. Finally, we'll order an appraisal of your new home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, and you'll probably}likely sign everything at their officeWe work with with this company to set your date to close. Because you don't have to worry about these details, you can think about moving logistics, if you're going to repaint, new carpet, and all the details of moving into a new home.
You've answered a few questions, given us lots of information, applied online, and Before you know it, you'll be moving in! We take care of the legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Affirm Home Loans at (972) 292-0448. It's our job to answer lending questions, so we're happy to help!