How the Loan Process Works

There is no doubt ; getting a mortgage is a complicated process. You wouldn't be visiting our site if it were possible to complete a simple loan app and receive a great loan funded in one day. But AmeriBest Mortgage 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 on your maximum loan amount

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 step is where AmeriBest Mortgage will start to save you money. You will supply info on your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (with your permission, of course). After we've finished reviewing your information, we'll give you a pre-qualificaiton letter. 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 shopping for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we will order an appraisal of your new home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at their officeWe work with with this company to set your closing date. Because you will not need to worry with this coordination, you can concentrate on moving logistics, painting, new carpet, and the fun parts of moving into a new house.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you are deciding when to move in! We take care of the loan details so you can focus on finding the new home that's right for you.

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