An Overview of the Mortgage Loan Process

There is no doubt that getting a mortgage is a complex process. You wouldn't be visiting our website if it were possible to fill out a simple loan app and receive the best loan check cut the same day. But U.S.A. Lending, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in obtaining a loan.

Step one: Decide how much you can afford

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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 begin to save you money. You will supply information about your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. We'll go over all this info then give you a letter of pre-qualification. Handle it with care — it can be a great tool for buying your new home! With this letter, your REALTOR® 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 now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your date to close. Since you don't need to coordinate this process, you get to think about the move, paint colors, new carpet, and the fun parts of getting your new house.

You've answered a few questions, given us detailed information, applied , and before you know it, you are moving in! We do the mortgage legwork so you can focus on finding the new home that's right for you.

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.