How the Loan Process Works
Shopping for a mortgage loan? We'll be glad to discuss your mortgage needs! Call us at (615) 717-3185 or (615) 417-2129. Want to get started? Apply Now
There's little question ; getting a mortgage loan is a complex process. You wouldn't be here on our site if it were possible to complete a simple loan app and receive a great loan check cut in one 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 steps.
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? You can get a good idea of your preferred payment amount 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 process really begins and Allegiant Mortgage, LLC can really save you money. You will supply information on your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we've reviewed your information, we'll provide you with a pre-qualification letter. Handle it with care — it is a great tool when you make your offer! Your real estate agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out your new home, we are looking for the loan that best fits your needs.
Once you've made the offer and it's been accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to find a title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender requires are available, and you'll probably}likely sign everything at their officeWe do all the work to work with with this company on your date of closing. Because you won't need to worry about these details, you get to think about moving, paint colors, new carpet, and the fun parts of getting a new house.
You've answered some few questions, given us detailed information, applied , and Before you know it, you're moving in! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Allegiant Mortgage, LLC at (615) 717-3185 or (615) 417-2129. It's our job to answer lending questions, so we're happy to help!