About the Loan Process
There's a lot involved in oder to get a mortgage loan. You wouldn't be visiting our website if you could fill out a simple loan app and get an excellent loan funded in one day. 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.
There are four primary steps involved in obtaining a mortgage loan.
Step one: Decide on your maximum loan amount
This is a function of a couple things. What kind of monthly payment are you looking for? 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 is where My FL Home Loans, Inc. will start saving you money. You will supply information on your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it can be a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on your new home, we are researching the loan that best fits your needs.
Step three: apply now! We make it easy
Once you've made the offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our website. When the time is right, we will order an appraisal of your new home.
Step four: your loan is funded
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 will require are in order, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company to set your closing date. Because you will not need to coordinate this process, you get to think about moving logistics, if you're going to repaint, new carpet, and all the details of getting your new house.
You've answered a few questions, provided detailed information, applied , and before you know it, you're moving in! We take care of all the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call My FL Home Loans, Inc. at (727) 743-1620. My FL Home Loans, Inc. answers loan process questions every day.