An Overview of the Loan Process

Make no mistake, there's a lot to do when you get a mortgage loan. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out a simple application. But Atlantic Financial Services does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a mortgage loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. 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? 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 is where the process really begins and Atlantic Financial Services can really save you money. You will provide info on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Handle it with care — it is a great tool when you make your offer! 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 a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and it's been accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: your loan is funded

The 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 ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company to set your date of closing. Because you won't have to worry about these details, you can think about moving, paint colors, new carpet, and the details involved in getting a new home.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! 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. It's our job to answer lending questions, so we're happy to help!

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