About the Mortgage Loan Process

No doubt, quite a lot to do when you get a mortgage. You wouldn't be researching mortgage loans if you could get a mortgage loan in one day by filling out a simple application. 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.

Getting a mortgage loan involves four major steps.

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: complete a pre-qualification

This is where the process really begins and you save the most money. You will provide info about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. We'll go over this information and will give you a letter of pre-qualification. Handle it with care — it is a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your agent, we find the best program for you.

Step three: apply for your loan

After you've made an offer and the sellers accept it, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company to set your closing date. Because you don't have to worry about these details, you get to concentrate on moving, painting, new carpet, and the fun parts of moving into your new home.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! The Reen Team at American Pacific Mortgage is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call The Reen Team at American Pacific Mortgage at (408) 626-1879. The Reen Team at American Pacific Mortgage answers loan process questions every day.

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