How the Mortgage Loan Process Works

There can be little question ; getting a mortgage is a complicated process. You wouldn't be visiting our site if it were possible to fill out a simple loan app and receive a great loan funded in one day. But The Reen Team at American Pacific Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in obtaining a mortgage 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? What is the maximum you can borrow from a lender, given your income and credit history? 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: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide info on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). We will review this info then provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new house with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made an offer and it's been accepted, it's time to complete the loan application. Applying for your loan couldn't be much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your date to close. Because you don't have to coordinate this process, you get to concentrate on the move, paint colors, new carpet, and the details involved in moving into a new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you'll be moving! We take care of all the loan details so you can spend your time finding your new home.

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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