About the Loan Process
There can be little question ; getting a mortgage is a complicated process. You wouldn't be here on our site if it were possible to fill out a simple mortgage application and get an excellent loan funded the same day. But Omni Mortgage Corp. 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: Decide on your maximum loan amount
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. 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: pre-qualify for your loan
This is where Omni Mortgage Corp. will start saving you money. You will give us details about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've reviewed this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! Your agent should use your 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 a 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 the offer and the sellers have accepted, 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 will order the appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing. We'll work with this company to make sure the papers your lender will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your date to close. Because you will not need to worry about these details, you get to think about moving logistics, if you're going to repaint, carpet, and the fun parts of moving into a new house.
You've answered some few questions, provided lots of information, applied online, and before you know it, you are deciding when to move in! Omni Mortgage Corp. is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Omni Mortgage Corp. at 718-441-7000. It's our job to answer lending questions, so we're happy to help!