Our Loan Process

OUR LOAN PROCESS
IN THE GREATER ATLANTA AREA

Getting a mortgage loan to buy a home can be a tedious process, and can be especially scary for those new to the process. That’s why it’s best to choose a mortgage broker with a process based on experience and principled work ethic.

When you select AML, you’re getting a mortgage broker that has spent years honing our process while helping people secure the loans they need. Our process is comprised of four stages, and they are the following:

Step : 1

Mortgage Pre-Approval & Pre-Qualification

Your lender checks your credit history and confirms you can take on a mortgage loan.

The pre-approval and pre-qualification stage ensures a smooth roadmap ahead for the buyer, seller, and lender. During pre-approval, the lender will pull your credit report to check your score and see your payment history—this informs the loan amount you’ll qualify for, while also telling the seller that you’re a serious buyer.

A pre-qualification is a bit less formal, with the lender looking at the basics of your credit and capacity to repay a mortgage loan. There’s no third-party verification, only a conversation with your loan officer.

Step : 2

Mortgage Products & Rates

Learn about the different types of loans that are available to home buyers.

After obtaining a pre-approval and pre-qualification, it’s time to choose the best mortgage program for your personal situation. There are many options to choose from, each with a unique set of rates, points, and fees. Having a skilled mortgage lender at your service makes the decision far less complicated.

Do you need an adjustable or fixed-rate mortgage? What about an FHA loan or a USDA loan? Do you qualify for a VA loan? All these questions can prove time-consuming and even frustrating. Our mortgage lenders evaluate your individual storyline and make well-informed recommendations for the perfectly suited mortgage.

Step : 3

Mortgage Commitment Letter

The final loan approval gets you one step closer to homeownership.

After you’ve done your due diligence on the real estate market and signed your sales contract with the intent of making an offer on a specific home, the mortgage commitment letter confirms that all sides are satisfied and ready to move forward. As the underwriter of the letter, the mortgage lender examines a specific property, as well as the results of the all-important appraisal and title search, before establishing that no liens exist and the current homeowner can rightfully sell the property.

The mortgage commitment letter finalizes the approved loan amount and states any conditions agreed upon by you and the lender. After applying your signature, you’re one step closer to full homeownership!

Step : 4

The Closing Date

Get your questions answered and close on your new home.

Our personalized service brings you to the final step in the process: the closing. Here, you’ll complete your real estate transaction and realize your dream of homeownership. The closing date is set during the contract negotiation phase—and this is the date when you’ll make the remaining payments on fees for services and expenses, related to finalizing the mortgage.

Closing costs can include attorney fees, taxes, title search costs, housing expenses and more. And when it comes time to sit down at the table on closing day, Absolute Mortgage Lending has your back and is there to see you to the finish line.

GET IN TOUCH

At AML, we’re here to answer any and all questions you have about acquiring a mortgage loan in the Greater Atlanta, GA area and beyond. Please contact our mortgage brokers if you need help, either by phone or by filling out the contact form on this page.