Until you’ve applied for a mortgage and purchased a home, you never know how complicated the process truly is. Even after you’ve done it once or twice, it’s still a complicated process. It’s at this time you realize how beneficial it is to have a mortgage company on your side willing to work with you and for you to make the process as seamless as possible. Working with Amerihome to secure your mortgage helps you feel more confident in the process. The loan officers here work hard to help you find what you’re looking for from start to finish, and they’re always around to answer your questions and ease your fears.
What Do I Do First?
Now that you’re ready to buy a home and you’ve done your research to find a lender with the best rates, you’ll call Amerihome. You can do contact the company online, too. The first thing to do is fill out an application to pre-qualify for a mortgage. This is the most important part of the process, and it should be done long before you begin shopping for a home.
Preapproval allows you to see what you can afford, how much house you can buy, and what rates you’re going to have on the table with your credit and financial situation. It’s the most important part of the process, and it’s the one that can make or break your search for a new home.
Once a loan officer receives your application for approval, they contact you. This is when they do their part to help you find out which loan type is right for you. There are many available loan types when you work with Amerihome, and none are right or wrong. They’re all good for specific buyers, and it takes finding the one that works well with your finances. This is what loan officers are for, and it’s imperative you work with them to make this determination.
AmeriHome has several loan options available to buyers. They work with those who have a low down payment. They work with those who want a traditional mortgage, those who need down payment assistance, and those who are applying for a loan with less than perfect credit. The company also works with customers who already own a home but wish to refinance their home for a new mortgage. It’s a simple process, but you do work with a lender to help understand what you qualify for.
AmeriHome works with you to find the best possible rate, but it’s not up to the lender what you will receive in terms of rates. Your credit is what determines how much you pay in interest over the life of your loan. This is why lenders recommend you check your credit report prior to filing applications for preapproval. Any mistakes on the report can be fixed with ease if you handle them in advance and then begin the homebuying process.
Rates are all competitive, and each person has a unique credit profile that determines available rates. This is why preapproval is so important, as it helps you understand where you stand financially and what you can afford prior to actually shopping for a home.
If you haven’t considered a smaller lender such as AmeriHome for your next mortgage, don’t write them off just yet. Smaller lenders tend to offer more personalized service for their customers, which means you’re forming a relationship with people rather than turning into an account number on a computer screen somewhere.