How the Mortgage Loan Process Works

Make no mistake, there's a lot to do when you get a mortgage loan. You wouldn't be here on our site if you could complete a simple loan application and receive the best loan funded in one day. But Atlantic Financial Services does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: complete a pre-qualification

This step is where Atlantic Financial Services can start saving you money. You will give us info about your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender will need are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company on your closing date. Because you won't have to worry about these details, you get to concentrate on the move, painting, new carpet, and all the details of moving into your new home.

You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving! Atlantic Financial Services is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Atlantic Financial Services at (732) 969-9300. We answer questions about the loan process every day.

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