An Overview of the Loan Process

There's little doubt ; getting a mortgage loan is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in one day by filling out a simple application. 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.

There are four main steps involved in getting a loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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: complete a pre-qualification

This is where the process really begins and Omni Mortgage Corp. can really save you money. You will give us details about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. When we review this information we provide a letter of pre-qualification. Your agent will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new house with your agent, we find the best program for you.

Step three: apply for your loan

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

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to make sure all the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your closing date. Because you won't need to worry with this coordination, you can concentrate on the move, painting, carpet, and all the details of moving into your new home.

You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving in! Omni Mortgage Corp. is in the business of loans; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Omni Mortgage Corp. at 7184417000. Omni Mortgage Corp. answers loan process questions every day.