The Four Steps of the Mortgage Loan Process

There's no question that getting a mortgage loan is a complicated process. You wouldn't be here on our website if you could fill out a simple loan application and get the best loan check cut the same day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

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. 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 amount 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 step is where American Hero Mortgage can start saving you money. You will give us details on your current job, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). We'll review all this info and will provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for the home that's right for you, we are researching the best loan for you.

Step three: apply for your loan

Once you have made an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply right here on our site. When the time is right, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the sellers will coordinate to decide on an escrow/title company to take care of the funding of your loan. We'll work with this company to make sure all the papers your lender requires are in order, and you'll probably sign everything at this company's office. We will coordinate with this company to set your date to close. Since you will not need to coordinate this process, you can think about the move, paint colors, new carpet, and the details involved in moving into a new home.

After you have answered some few questions, provided detailed information, and applied, you'll be moving in before you know it! American Hero Mortgage is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?