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

There's no doubt ; getting a mortgage is a complex process. You wouldn't be visiting our site if it were possible to complete a simple loan application and get the best loan funded in one day. But Acceptance Home Loans does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a mortgage loan.

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? 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. 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: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You will supply information on your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've finished reviewing the provided 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 looking for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our website. At the end of this step, we will order the appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll coordinate 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 do all the work to work with with the title company on your closing date. Because you will not have to worry about these details, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and the fun parts of moving into a new house.

You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving in! We take care of the legwork so you can focus on finding your new home.

Have questions about the loan process? Call Acceptance Home Loans at 817-878-4220. Acceptance Home Loans answers loan process questions every day.