About the Loan Process

There's a lot involved when you get a mortgage loan. You wouldn't be here on our website if you could complete a simple loan app and get the best loan funded the same 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.

Getting a mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

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. 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 rubber meets the road and you save the most money. You will supply information about your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. Your agent will likely 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 shopping for a new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our website. At the end of this step, we will order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan once it's approved. We'll work with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe coordinate with this company to set your date to close. Since you won't need to coordinate this process, you can concentrate on moving, if you're going to repaint, carpet, and all the details of moving into a new home.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call New Millennium Mortgage Co. NMLS: 331173 at (941) 366-5800. New Millennium Mortgage Co. NMLS: 331173 answers loan process questions every day.

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