How the Loan Process Works
There is little question that getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to fill out a one-page loan application and get an excellent 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 main steps involved in getting a 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. 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 the process really begins and AmeriBest Mortgage can really save you money. You will give us details on your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. We will review all this information and give you a pre-qualification letter. Be careful with this letter — it is a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are looking for the best loan for you.
Step three: apply now! We make it easy
After you've made an offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. At the end of this step, we will order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to find a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe work with with this company on your date of closing. Since you don't need to worry about these details, you get to think about moving, paint colors, new carpet, and the fun parts of getting your new home.
You've answered some few questions, provided detailed information, applied online, and before you know it, you are moving in! AmeriBest Mortgage is in the business of mortgage loans; you're not — so take care of the details. Doesn't that make sense?
Have questions about the loan process? Call AmeriBest Mortgage at (321) 777-7277. AmeriBest Mortgage answers loan process questions every day.