How the Loan Process Works

No doubt, quite a lot to do in oder to get a mortgage. You wouldn't be here on our website if it were possible to complete a simple mortgage application and get an excellent loan check cut the same day. But Channel Mortgage LLC 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 mortgage loan.

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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 step is where Channel Mortgage LLC will start to save you money. You will give us details about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new home with your real estate agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers accept it, you should apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. When the time is right, we will order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe work with with this company on your date to close. Since you will not need to worry about these details, you can think about moving, if you're going to repaint, new carpet, and the details involved in moving into your new home.

You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving in! Channel Mortgage LLC is in the business of loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Channel Mortgage LLC at 7186399500. It's our job to answer lending questions, so we're happy to help!

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Channel Mortgage LLC

Connecting the Dots to Home Ownership

55-25 69th Street 1st Floor
Maspeth, NY 11378-1806