The Mortgage Loan Process: an Overview
There can be little doubt that getting a mortgage is a complicated process. You wouldn't be visiting our site if you could complete a simple application and receive a great loan check cut in one day. But Omni Mortgage Corp. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in getting a loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. What kind of monthly payment are you looking for? 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: pre-qualify for your loan
This is where Omni Mortgage Corp. can begin to save you money. You will give us 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 your information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new home with your real estate agent, we find the best program for you.
Once you have made the offer and it's been accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our website. At the end of this step, we will order the appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company on your date to close. Since you won't need to worry about these details, you get to think about moving, paint colors, carpet, and all the details of moving into a new home.
You've answered some few questions, given us lots of information, applied online, and Before you know it, you'll be moving! Omni Mortgage Corp. is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Omni Mortgage Corp. at 7184417000. Omni Mortgage Corp. answers loan process questions every day.