The Mortgage Loan Process: an Overview

There's quite a lot involved in oder to get a mortgage. You would not be looking up loan information if you could get a loan in a single day by filling out a simple application. But Acceptance Capital Mortgage Corporation 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 loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide details about your current job, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. Your REALTOR® should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we're busy finding the loan program that's just right for your situation.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply right here on our site. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with this company to set your closing date. Because you will not need to worry with this coordination, you get to concentrate on moving logistics, painting, new carpet, and all the details of moving into a new home.

You've answered a few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! Acceptance Capital Mortgage Corporation is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Acceptance Capital Mortgage Corporation at (337) 453-0012. It's our job to answer lending questions, so we're happy to help!

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