 An overview of the loan process
Make no mistake, there's a lot involved in getting a mortgage
loan. You wouldn't be here on our website if you could fill
out a one-page application and get the best loan for you funded
the same day. What we do is do most of the heavy lifting for
you, so you can concentrate on what's important -- preparing
to move into your new home, saving money, or making plans
for your home equity check.
There are four main steps involved in getting a loan. You'll
see that we've made your part in them as easy as possible,
and we do all the work! That's what we're here for.
Step one: determine how much you can borrow
This is a function of a couple things. 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? The first part you can get a rough idea of by 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: pre-qualify for your loan
This is where the rubber meets the road and you save the
most money. You supply information about your employment,
your assets, your residence history, and so on. We get your
permission to run your credit score. When we review all this
information we give you a Pre-Qualification Letter. Handle
it with care -- to a home seller, it's like a suitcase full
of cash! Your realty agent will use your Pre-Qual (as they
may call it) to make the best offer on the home you choose,
and the seller knows you're pre-qualified. It gives you buying
clout! And while you're picking out the home that's right
for you, we're busy finding the loan that's right for you.
Step three: apply now! We make it easy
Once you've made an offer and it's been accepted, it's time
to complete the loan application. It couldn't be easier, and
you can do it online, right here at our website. When the
time is right, we'll order an appraisal of your new home.
Step four: your loan is funded
Your realty agent and the seller's will work together to designate
an escrow/title company to handle the funding of your loan
once it's approved. We'll coordinate with the escrow company
to make sure all the papers your lender will need are in order,
and you'll sign everything at the escrow/title company's office.
You've answered a few questions, given us some detailed
information, applied online, and next thing you know, you're
moving in! We're in the business of mortgage loans, you're
not -- so we do most of the work. Doesn't that make sense?
F.A.Q
We offer a wide range of services including real estate sales,
financing, and property management. Call us today for a free
consultation @ 916-482-6899 or email us at fay@amerpropmgmt.com.
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