An Overview of the Mortgage Loan Process

There can be no question that getting a mortgage is a complex process. You wouldn't be visiting our site if it were possible to complete a one-page application and get a great loan check cut 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.

Getting a home loan involves four major milestones.

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? 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: pre-qualify for your loan

This is where the rubber meets the road and U.S.A. Lending, Inc. can really save you money. You will supply information on your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we have gone over this information we will provide a letter of pre-qualification. Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! 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

After you've made the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company to set your closing date. Because you don't need to worry with this coordination, you get to think about the move, if you're going to repaint, new carpet, and the details involved in moving into a new home.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving! U.S.A. Lending, Inc. is in the business of mortgage loans; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call U.S.A. Lending, Inc. at 305-967-7200. It's our job to answer lending questions, so we're happy to help!