About the Mortgage Loan Process

There's quite a lot to do in oder to get a mortgage loan. You wouldn't be looking up loan information if it were possible to get a loan in one day with 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.

There are four primary steps involved in obtaining a loan.

Step one: Decide how much you can afford

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? 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: pre-qualify for your loan

This is where AmeriBest Mortgage will start saving you money. You will give us info about your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. We will review this information then provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! 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 for your loan

After you've signed an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with this company to set your date of closing. Because you won't need to worry about these details, you can concentrate on moving logistics, paint colors, carpet, and all the details of moving into a new home.

You've answered some few questions, provided lots of information, applied , and before you know it, you are deciding when to move in! We take care of the legwork so you can focus on finding your new home.

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

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