About the Mortgage Loan Process
Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. 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.
Getting a home loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This is where the process really begins and First Southeast Mortgage Corporation can really save you money. You will supply information on your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. Your real estate agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for a new home with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an offer and it's been accepted, it's time to 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 submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your date of closing. Because you will not have to coordinate this process, you can think about the move, paint colors, carpet, and the fun parts of getting your new home.
You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving! First Southeast Mortgage Corporation is in the business of loans; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call First Southeast Mortgage Corporation at 954.920.9799. It's our job to answer lending questions, so we're happy to help!