An Overview of the Mortgage Loan Process

There is little question that getting a mortgage is a complex process. You would not be looking up loan information if you could get a loan in one day with a simple application. We do most of 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 steps.

Step one: Decide how much you can afford

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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: pre-qualify for your loan

This step is where Atlantic Financial Services can start saving you money. You will supply info about your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We will go over all this info then give you a letter of pre-qualification. Your real estate agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! 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 an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't be 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: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe coordinate with the title company to set your closing date. Because you won't have to coordinate this process, you get to think about moving logistics, if you're going to repaint, new carpet, and the fun parts of moving into your new house.

You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving! We take care of the legwork so you can spend your time finding your new home.

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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