About the Mortgage Loan Process
No doubt, quite a lot to do in oder to get a mortgage loan. You would not be researching mortgage loans if you could get a mortgage loan in one day by filling out a simple application. But First Southeast Mortgage Corporation does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major milestones.
Step one: Decide how much you can afford
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. 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 the process really begins and First Southeast Mortgage Corporation can really save you money. You will give us info on your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed this information, we'll provide a pre-qualificaiton letter. 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 your new home with your agent, we find the best program for you.
After you've signed an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our website. 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 an escrow/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 this company on your date to close. Since you will not need to coordinate this process, you get to think about moving logistics, paint colors, carpet, and all the details of moving into a new home.
You've answered a few questions, provided lots of information, applied online, 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 First Southeast Mortgage Corporation at 954.920.9799. First Southeast Mortgage Corporation answers loan process questions every day.