How the Loan Process Works
There's a lot involved in oder to get a mortgage loan. You wouldn't be visiting our website if it were possible to complete a one-page loan app and receive the best loan check cut the same day. We do most of 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: Decide on your maximum loan amount
This is a function of a couple things. 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? 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. 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 give us info about your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. After we've reviewed your information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are finding the loan that best fits your needs.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, you should apply for the loan. Applying for a loan couldn't get much easier; you can apply any time right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your closing date. Because you will not need to worry about these details, you can concentrate on moving logistics, painting, new carpet, and all the details of getting a new house.
You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving in! Acceptance Capital Mortgage Corporation is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Acceptance Capital Mortgage Corporation at (337) 453-0012. Acceptance Capital Mortgage Corporation answers loan process questions every day.