An Overview of the Mortgage Loan Process

No doubt, a lot to do when you get a mortgage loan. You wouldn't be here on our website if it were possible to complete a one-page loan app and receive an excellent loan funded in one day. But American Mortgage Advisers, Inc 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 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. 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 American Mortgage Advisers, Inc will begin saving you money. You will supply information about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we have reviewed all this information we will provide a pre-qualification letter. Be careful with this letter — it can be a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new home, we are looking for the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have made the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our site. Finally, we'll order an appraisal of your new home.

Step four: your loan is funded

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 make sure all the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date to close. Because you don't have to coordinate this process, you can think about moving logistics, painting, carpet, and all the details of moving into a new home.

You've answered some few questions, given us lots of information, applied online, and Before you know it, you'll be moving! American Mortgage Advisers, Inc is in the business of loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call American Mortgage Advisers, Inc at 2148657442. We answer questions about the loan process every day.