An Overview of the Loan Process

There is no doubt that getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a loan in one day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

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. 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: pre-qualify for your loan

This is where the rubber meets the road and AmeriBest Mortgage can really save you money. You will give us details about your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We'll go over this info then will give you a pre-qualification letter. Your REALTOR® will use your 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, we are looking for the best loan for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. 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

Your REALTOR® and the seller's will coordinate to find a title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe work with with this company to set your closing date. Since you will not need to worry about these details, you get to think about the move, paint colors, new carpet, and the fun parts of getting a new house.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call AmeriBest Mortgage at 3217777277. We answer questions about the loan process every day.