About the Loan Process

There's no question that getting a mortgage is a complex process. You wouldn't be visiting our site if it were possible to fill out a simple application and receive an excellent loan check cut the same 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 main steps involved in getting a loan.

Step one: Decide how much you can afford

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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: complete a pre-qualification

This is where the process really begins and you save the most money. You will give us details about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed your information, we'll provide a pre-qualificaiton letter. Your REALTOR® should use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're deciding on the home that's right for you, we're busy researching the loan program that's just right for your unique situation.

Step three: apply for your loan

Once you've made an offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not be much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to decide on an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Because you will not need to worry with this coordination, you get to think about the move, painting, new carpet, and the fun parts of getting a new house.

You've answered a few questions, given us lots of information, applied online, and before you know it, you're deciding when to move in! U.S.A. Lending, Inc. is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??

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.

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