How the Loan Process Works

There's little question that getting a mortgage is a complicated process. You wouldn't be visiting our site if you could complete a one-page loan application and get the best loan funded in one 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.

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

Step one: Decide on your maximum loan amount

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 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 U.S.A. Lending, Inc. will start to save you money. You will provide info about your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing the provided information, we'll give you a pre-qualificaiton 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 a new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, it's time to complete the loan application. Applying for your loan couldn't be much easier; you can apply online right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender needs are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company on your closing date. Because you don't have to worry with this coordination, you can concentrate on the move, if you're going to repaint, new carpet, and the details involved in getting a new house.

You've answered some few questions, provided lots of information, applied , and the next thing you know, you're moving in! We take care of all the loan details so you can focus on finding your new home.

Have questions about the loan process? Call U.S.A. Lending, Inc. at 305-967-7200. U.S.A. Lending, Inc. answers loan process questions every day.