About the Loan Process
Make no mistake, there's quite a lot to do in oder to get a mortgage. You wouldn't be visiting our website if it were possible to complete a simple loan application and get an excellent 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 obtaining a mortgage loan.
Step one: determine how much you can borrow
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. We'll also help you through different scenarios by asking a few simple questions. 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 is where the process really begins and you save the most money. You will give us details about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. We'll review this info and will provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your REALTOR™, we find the best program for you.
Once you have made the offer and it's been 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 a professional appraisal on the 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 once it's approved. We'll work with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company on your closing date. Because you won't need to coordinate this process, you get to concentrate on moving logistics, painting, new carpet, and the details involved in moving into a new home.
You've answered a few questions, given us detailed information, applied online, and the next thing you know, you are moving in! We take care of all the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Milestone Mortgage, Inc. NMLS#136714 at 3175959600. We answer questions about the loan process every day.