The Loan Process

An overview of the mortgage loan process


Undoubtedly, obtaining a mortgage is a complex process. You would not be researching mortgage loans if you could obtain a mortgage loan by completing a simple application in a single day. We handle the heavy lifting for you, so you can focus on what is important - for example, preparing to move into your new home or saving money.

In order to obtain a loan, four steps are required.

The first step is to determine how much you can borrow.


This is determined by a number of factors. What is your budget for a monthly payment? Given your specific credit and employment history, income, debt, and goals, what is the amount that a lender is likely to lend you? Calculate your monthly payments using our website. When you answer a few questions, we can determine the correct loan amount and the best program for you. Using standard lending guidelines, we will be able to provide you with a good overview of what kind of terms and loan program will be most advantageous to you.

The second step is to pre-qualify.


Omni Mortgage Company, Inc. can help you save a significant amount of money. We will need details regarding your current employment, your assets, and your previous residence history. We will ask you to provide us with your employment, asset, and residence history information. A credit inquiry is made. Once we have reviewed this information, we will send you a letter of pre-qualification. You should handle it with care - it can be a valuable tool during the offer process. Your REALTOR® can use this letter to negotiate the best price for your new home. We help you find the right program while you are looking for a new home with your real estate agent.

Step three: submit your application! It is simple and convenient.


The loan application should be completed once you have made an offer and the sellers have accepted it. Your transaction could not be easier, and you can complete it online, right here on our website. We will order a professional appraisal on the home after the seller accepts your offer and you apply for your loan.

Step 4: Secure Funding


It is the real estate agent's responsibility to arrange for an escrow/title company to handle the closing and funding of the transaction. The company will work with us to ensure that all the documents required by your lender are in order. You will probably sign everything at this company's office once we work with them on your closing date. The fact that this coordination is not your responsibility means you can concentrate on the actual move, repainting, carpeting, and all the other details of moving into a new house.

After answering a few questions, providing a lot of information, and applying online, before you know it, you're moving! We will handle all the mortgage details so you can concentrate on finding the right new home.


Have questions about the loan process? Call Omni Mortgage Company, Inc.

NMLS#: 1954 at 6038936616. Omni Mortgage Company, Inc.

Questions about the loan process? Contact Omni today at (603) 893-6616!

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