The Mortgage Loan Process: an Overview

There is no question that getting a mortgage is a complicated process. You wouldn't be here on our site if you could complete a simple loan app and receive the best loan funded the same 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.

Getting a loan involves four major milestones.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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 the process really begins and The Reen Team at American Pacific Mortgage can really save you money. You will provide information about your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed this information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the 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 work with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your date to close. Since you won't have to worry about these details, you can concentrate on the move, if you're going to repaint, carpet, and the fun parts of getting your new house.

You've answered a few questions, given us detailed information, applied online, and the next thing you know, you are moving in! We take care of the legwork so you can focus on 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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