Applying for a mortgage loan can be a stressful process. The process can take tons of paperwork, time, and money.
At Marimark Mortgage, we strive to make the home loan process simple and stress-free so that homebuyers can focus on the best part- moving into a new home, or enjoying the extra money that comes with refinancing!
There are four steps involved in getting a home loan. Marimark Mortgage has made each step as smooth as possible for homebuyers and homeowners.
Step one: How Much Money Can you Borrow?
The first step is deciding how much a homebuyer or homeowner will spend on a monthly mortgage payment. A mortgage lender will then determine the loan amount based on credit history, employment status, income, and other current obligations.
Determining how much a homebuyer or homeowner can borrow can help set the foundation for a smooth home loan process.
Step two: Pre-qualification
The first step in the pre-qualification process is to receive a pre-approval letter. This letter will show how much money a mortgage lender has approved to borrow based on a homeowner or homebuyers credit, savings, and income.
The pre-approval letter is important as it lets sellers know that homebuyer is ready and able to purchase a home.
Step three: Completing the Loan Application
At this point, most information needed for the home loan has been gathered in the pre-qualification process.
Homebuyers and homeowners can complete the loan application on our website or contact a loan consultant to walk through the process. If completing the application online, loan applicants will create n account, which will provide them with the ability to check on the application status at any time.
Step four: Closing the Loan
The mortgage lender will send the closing documents to the closing attorney or title company.
We will work closely with the title company to ensure that documents are complete and ready for closing day.
Marimark Mortgage is based in Tampa, Florida, and serves the mortgage needs of homebuyers, homeowners, and investors in Florida, Virginia, and Pennsylvania.
We specialize in mortgages for first-time homebuyers, conventional home mortgages, refinance loans, reverse mortgages, and FHA, VA, and USDA mortgage options. We’ve worked extensively with cash-out refinancing and help clients to lower their monthly mortgage payments.
Updated on May 5, 2021