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

No doubt, quite a lot involved in oder to get a mortgage loan. You wouldn't be looking up loan information if you could get a loan in a single day by filling out a simple application. But American Mortgage Advisers, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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. 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 American Mortgage Advisers, Inc can really save you money. You will provide details about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for the home that's right for you, we are researching the best loan for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, you should complete the loan application. Applying for your loan could not be much easier; you can apply online right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you'll probably}likely sign everything at this company's officeWe work with with this company on your date to close. Since you will not need to worry with this coordination, you can concentrate on moving, if you're going to repaint, new carpet, and the fun parts of getting your new house.

You've answered a few questions, provided lots of information, applied , and the next thing you know, you are deciding when to move in! American Mortgage Advisers, Inc is in the business of loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call American Mortgage Advisers, Inc at 2147390569. We answer questions about the loan process every day.