WHAT TO EXPECT

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Throughout the process of applying for your loan,  we act as an advocate for you, providing guidance, support, and expertise. We also assist with lender selection, application submission, documentation review and communication with the lender, and help negotiate favorable terms, ensuring you get the best mortgage offer available. 

Here's a breakdown of the process and how AG Mortgage & Finance Solutions can help!

After scheduling an appointment, we will meet via phone, zoom or in person to discuss your financial goals, needs, and circumstances. At this point, information about your income, credit history, assets, and liabilities will be gathered to assess your borrowing capacity.

Based on your financial information, research will be conducted and the most suitable mortgage options will be presented to you.  With access to a large group of lenders, we will leverage this network to find the best match for your borrowing needs. Then an explanation about their features, including interest rates, loan terms, and deposit requirements will be given and guidance regarding the process of pre-qualifying and an estimate of the loan amount you may be eligible for will be provided.

At this stage you will be advised of the necessary documentation you will need to gather, such as pay slips, tax returns, bank statements, and employment verification. This documentation will be reviewed for accuracy and completeness before being submitted along with your loan application to the agreed selected lender. 

During the loan processing stage, the lender's loan team will carefully review your application and documentation. It is common for them to request additional information or seek clarification on certain aspects. As your representative, our role will be to serve as the intermediary between you and the lender, providing any necessary documentation and addressing any concerns that may arise throughout the process. Our goal is to ensure effective communication and a smooth experience for you during this stage.

The lender typically orders an appraisal of the property to determine its value and conducts a title search. Assisting in the coordination of these processes will be our responsibility and these results will be communicated to you. 

Once the lender's underwriting process is complete and they are satisfied that you qualify, they will issue a loan approval, specifying the loan amount, interest rate, and terms. AG Mortgage & Finance Solutions will review the approval with you, explaining any conditions or requirements and ensuring you understand your obligations. Loan terms will be verified for consistency with what was agreed upon and after you have signed all the necessary paperwork, we will coordinate with you, the lender, and other parties involved to schedule the loan settlement.