An Overview of the Loan Process

There is little doubt that getting a mortgage is a complicated process. You would not be looking up loan information if it were possible to get a 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.

There are four main steps involved in obtaining a loan.

Step one: Decide how much you can afford

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? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 is where the rubber meets the road and New Millennium Mortgage Co. NMLS: 331173 can really save you money. You will supply details on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. When we review this info we will provide a pre-qualification letter. Handle it with care — it is a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply any time right here on our site. When the time is right, we will order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll coordinate with this company to make sure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe coordinate with this company to set your closing date. Since you don't have to worry about these details, you get to concentrate on the move, paint colors, carpet, and the details involved in moving into your new home.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! We do the mortgage legwork so you can spend your time finding the new home that's right for you.

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