About the Mortgage Loan Process

There can be little doubt that getting a mortgage loan is a complicated process. You wouldn't be here on our website if you could fill out a simple mortgage application and get a great loan funded in one day. 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 main steps involved in obtaining a loan.

Step one: determine how much you can borrow

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? 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 America's Money Source will begin to save you money. You will supply info about your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. When we review this information we give you a letter of pre-qualification. 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 picking out your new home, we are finding the best loan for you.

Step three: apply now! We make it easy

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

Step four: your loan is funded

Your REALTOR® and the seller's will work together to designate a title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender will require are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with this company on your date of closing. Because you will not need to coordinate this process, you get to think about the move, if you're going to repaint, new carpet, and the fun parts of getting your new home.

You've answered a few questions, given us lots of information, applied online, and before you know it, you are moving in! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call America's Money Source at 4078987559. America's Money Source answers loan process questions every day.