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America Home Mortgage Application Process
Once your loan application has been received, a loan consultant will review and organize the information. The officer will advise you of all the available loan options that will placed your file in the best light with the lenders and enabling you to successfully accomplish your needs and wants, based on your qualifications.
Credit Report & Appraisal
The financial institutions will require both a credit report and an appraisal from an independent licensed appraiser. Both the credit report and the appraisal will highlight your strengths and maximize your financial favor to ensure that you acquire the best interest rate and loan program for your family.
Underwriting Your File
Your loan officer and processor will be assemble your package for submission and will keep you informed at every phase through the approval and final stage. Once your loan is approved your loan consultant will advise you of any obstacles hurdles and/or barriers that need to be addressed, to ensure that the approval process remains smooth.
Once your loan has been approved your loan officer will advise you of any final conditions that need to be met i.e., current pay stub or proof of insurance that need to be address. More often that not, these final conditions can be address in escrow.
Documents are Ordered
Loan documents & funding packages are prepared for your signature with the escrow office. The escrow officer will review all documents with you to ensure lender conditions have been met. After signing the final documents, your escrow office will prepare them for recording.
Once all conditions have been met, the loan is funded, escrow is closed, deed recorded, and the transaction is complete.