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 An overview of the loan process
Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. We will make your loan process; the most accomodating and effortless Borrowing Experience in the Industry. What we do is most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity line of credit.
There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.
| Step I: determine how much you can borrow (complete Quick application option) |
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This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a rough idea of by using our easy to use most accurate mortgage calculators on our website. Contact us and We'll also help you through different scenarios by asking a few simple questions. 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. Complete our online secure Quick Application option and submit a paystub or 1st page of your 1040's if self employed email or fax it to us through our secure docs system and we will have a loan commitment for you within 24 hours.
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| Step II: pre-Approval for your loan (conditional loan commitment) |
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Pre-approval is an actual loan commitment. Not just a pre-qualification (as some my call it). This is where the rubber meets the road and you save the most money. You have completed our Quick application option and submitted a paystub or 1st page of your 1040's if self employed. We review your credit and Income and issue a loan commitment for the maximum loan amount, current rate and conditions we need to meet. Handle it with care-- to a home seller, it's like a suitcase full of cash! Your Realtor will use this Loan Commitment to make the best offer on the home you choose, and the seller knows you're have a loan approval and not simply a pre-qualification. A loan commitment gives you buying clout! While you are picking out your home that's right for you, were busy finding the loan that's right for you.
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| Step III: apply now! We make it easy (Login and complete Full Loan application) |
At this point you will Customer Login and complete the full Loan application and supply us with the full Loan Application info about your employment, your assets, residence history and so on, through our Secure Doc system. We continue to process your loan and deligently coordinating the process with your Realtor and Attorney by ordering Title, appraisal and so on. Our Automated Email loan status alerts we will alert all parties of your loan process and status. Our system allows for a much coordinated process and clear all conditions for a "clear to close" status and ready to order closing docs.
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| Step IV: your loan is funded |
Your realtor agents, attorneys and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's "Clear to Close" ready for docs. We'll coordinate with the escrow company ,attorney's for a closing date and time and make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.
| You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans -- so we do most of the work. Doesn't that make sense?
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The security and privacy of your information is our top priority. www.ApolloMortgage.com is guaranteed to be 100% secure. All documents, emails, and information is guaranteed confidential. We will not share your information with any other entity or company.
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