About the Loan Process
Make no mistake, there's a lot to do when you get a mortgage. You would not be looking up loan information if you could get a loan in one day by filling out a simple application. But Contemporary Mortgage Services, Inc 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 how much you can afford
A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. 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 Contemporary Mortgage Services, Inc can begin to save you money. You will provide information about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. We'll review all this info then will provide a pre-qualification letter. Your real estate agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for a new home with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
After you've signed an offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our site. Finally, we'll order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to designate an escrow/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 avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with this company on your date to close. Because you won't have to coordinate this process, you can think about moving logistics, if you're going to repaint, carpet, and all the details of getting a new home.
You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving in! We take care of 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 Contemporary Mortgage Services, Inc at 407-834-3377. Contemporary Mortgage Services, Inc answers loan process questions every day.