The Loan Process: an Overview

Make no mistake, there's quite a lot to do in oder to get a mortgage. You wouldn't be here on our site if you could complete a one-page loan app and receive an excellent loan check cut in one day. 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 loan involves four major milestones.

Step one: Decide how much you can afford

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? 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: complete a pre-qualification

This step is where New Millennium Mortgage Co. NMLS: 331173 can start to save you money. You will give us info about your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. We'll go over this info and will give you a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have made 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 site. At the end of this step, we will order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll coordinate with this company to make sure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your date to close. Since you won't have to coordinate this process, you can think about the move, painting, carpet, and the details involved in moving into a new home.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you are moving in! New Millennium Mortgage Co. NMLS: 331173 is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??

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.