The Four Steps of the Loan Process:The Loan Process: Four Steps

Make no mistake, there's a lot to do in oder to get a mortgage. You would not be looking up loan information if you could get a mortgage loan in a single day with a simple application. But New Millennium Mortgage Co. NMLS: 331173 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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: pre-qualify for your loan

This step is where New Millennium Mortgage Co. NMLS: 331173 will begin saving you money. You will provide details on your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on your new home, we're busy researching the loan program that's just right for your unique situation.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our website. At the end of this step, we'll order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to find an escrow/title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with the title company on your date of closing. Since you don't have to worry about these details, you get to think about moving, if you're going to repaint, new carpet, and all the details of moving into a new house.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! New Millennium Mortgage Co. NMLS: 331173 is in the business of mortgage loans; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call New Millennium Mortgage Co. NMLS: 331173 at (941) 366-5800. It's our job to answer lending questions, so we're happy to help!