The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps

There is no doubt ; getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could fill out a simple loan app and get an excellent loan check cut in one day. But AmeriBest Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

Step one: determine how much you can borrow

A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where AmeriBest Mortgage can begin saving you money. You will supply details about your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. Your agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe work with with the title company on your date to close. Since you don't need to worry with this coordination, you can think about moving, if you're going to repaint, new carpet, and the details involved in getting your new house.

You've answered a few questions, provided lots of information, applied online, and before you know it, you're deciding when to move in! AmeriBest Mortgage is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call AmeriBest Mortgage at 3217777277. It's our job to answer lending questions, so we're happy to help!