The Loan Process: an Overview

There's a lot to do in oder to get a mortgage loan. You wouldn't be visiting our website if you could complete a simple application and receive a great loan check cut the same day. But Atlantic Financial Services does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major steps.

Step one: determine how much you can borrow

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. 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 step is where Atlantic Financial Services can begin saving you money. You will provide info about your employment, 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 (only after you give your permission, of course). After we have reviewed this information we will provide a letter of pre-qualification. Handle it with care — it can be a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, it's time to complete the loan application. Applying for a loan couldn't get much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender will require are in order, and you will probably}likely sign all these papers at their officeWe work with with the title company to set your date of closing. Since you don't need to worry with this coordination, you get to think about moving logistics, paint colors, new carpet, and all the details of moving into your new home.

You've answered a few questions, provided detailed information, applied online, and Before you know it, you'll be moving! We do the legwork so you can focus on finding the new home that's right for you.

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

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