The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

There is no question that getting a mortgage loan is a complex process. You would not be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But The Reen Team at American Pacific Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: Decide how much you can afford

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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 step is where The Reen Team at American Pacific Mortgage can begin saving you money. You will give us details on your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. When we review all this info we will give you a pre-qualification letter. Your REALTOR® will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new home with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new 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 coordinate with this company to make sure all the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with this company on your date of closing. Since you won't have to coordinate this process, you can think about the move, paint colors, carpet, and the fun parts of getting your new home.

You've answered some few questions, given us detailed information, applied online, and before you know it, you are moving in! The Reen Team at American Pacific 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 The Reen Team at American Pacific Mortgage at (408) 626-1879. It's our job to answer lending questions, so we're happy to help!

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