About the Mortgage Loan Process

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There is no doubt; getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a loan in one day by filling out a simple application. But American Capital Home Loans does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

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

Step one: determine how much you can borrow

A couple of factors determine this amount. 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? You can get a good idea of your preferred payment amount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few 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: pre-qualify for your loan

This step is where American Capital Home Loans will start to save you money. You will supply info on your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission). After we've finished reviewing this information, we'll provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply any time right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to ensure all the papers your lender needs are in order, and you will likely sign everything at this company's office.  We coordinate with the escrow/title company on your closing date. Since you won't have to coordinate this process, you get to think about the move, if you're going to repaint, carpet, and all the details of getting your new home.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call American Capital Home Loans at 760.975.0255. American Capital Home Loans answers loan process questions every day.