About the Mortgage Loan Process
No doubt, quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if it were possible to fill out a simple loan application and get a great loan check cut the same day. But America's Home Loans does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in obtaining a mortgage loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. How much of a monthly payment can you afford? 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: pre-qualify for your loan
This is where the process really begins and you save the most money. You will give us information on your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We'll review this info and give you a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we're busy finding the loan program that's right for you.
Once you have made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure all the papers your lender requires are in order, and you will probably}likely sign everything at their officeWe do all the work to coordinate with this company to set your closing date. Because you won't have to worry about these details, you can concentrate on the move, painting, new carpet, and all the details of getting your new home.
You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're moving in! America's Home Loans is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call America's Home Loans at 701.222.0100. We answer questions about the loan process every day.