How the Mortgage Loan Process Works

There's little question ; getting a mortgage is a complex process. You wouldn't be here on our site if you could fill out a one-page loan app and receive the best loan check cut in one day. We do most of 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 mortgage loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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: complete a pre-qualification

This is where the rubber meets the road and American Mortgage Advisers, Inc can really save you money. You will give us details on your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (with your permission, of course). When we review all this info we provide a pre-qualification letter. Be careful with this letter — it is a useful 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 finding the loan that best fits your needs.

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 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: funding

The real estate 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 requires are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company on your closing date. Because you won't need to coordinate this process, you can think about the move, paint colors, carpet, and the details involved in moving into your new house.

You've answered a few questions, provided detailed information, applied online, and before you know it, you're deciding when to move in! American Mortgage Advisers, Inc is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??

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