Friday, December 16, 2011 - Article by: American Finance Group -
The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.
You may prefer to talk with AFG/PFA before house hunting to determine in advance how much you can afford and the mortgage amount for which you can qualify. This step is called pre-qualification and can save you time and trouble by making certain you are looking in the correct price range.
To complete the 1003 Mortgage Application, you will need to gather:
Having these items on hand when you visit the mortgage company will help speed up the application process. Usually an appraisal fee will have to be paid when you submit the mortgage application. After you speak with us, you should have a general idea if you qualify for the size and type of loan you want. After the mortgage application, we will let you know if you qualify for the loan within a couple of days.
Don McCarty
American Finance Group
(919) 633-7505
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