About the Loan Process
There can be no doubt ; getting a mortgage is a complex process. You wouldn't be here on our website if it were possible to complete a one-page application and receive the best loan funded in one 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 main steps involved in getting a mortgage loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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: complete a pre-qualification
This is where the rubber meets the road and you save the most money. You will provide info about your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we are looking for the loan that best fits your needs.
Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. Finally, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Because you won't have to worry with this coordination, you can think about moving logistics, painting, new carpet, and the fun parts of getting a new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving! America's Home Loans is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call America's Home Loans at 701.222.0100. It's our job to answer lending questions, so we're happy to help!