Loan Process at Ameristar Mortgage
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Our team of mortgage professionals
are trained to provide you with the information to make
obtaining the right loan easy. Whether you want a Good Faith
Estimate, Pre-qualification, or even Pre-Approval, you can
apply from the comfort of your home or office. Ameristar
Mortgage will gather the proper information online or
over the phone and fax or mail the necessary documents directly
to you. At Ameristar Mortgage you can check our most
recent rates, fees and closing costs, communicate with our
staff through e-mail, submit a pre-qualification and apply
for a mortgage 24 hours a day, seven days per week online.
Follow the easy steps outlined below to obtain your loan:
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| Step One: Applying |
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Apply
online at this web-site, download the application and fax
it to us, or send the application by U.S. mail. You can
also submit your loan application by
phone with a loan originator or schedule an appointment
(day, evening, weekend and in home appointments available);
the process takes just minutes! Any way you choose to apply,
Ameristar Mortgage will lock or float your rate based
on your needs. If you close within your designated lock-in
period we guarantee that the terms (rate and points) of
your loan will not change. |
| Step Two: Confirmation of Application |
| If
you opted to have your application mailed,
within
24 - 48 hours you will be sent complete documentation relating
to your loan, much of it already filled out, for your approval
and signature. This package will include a Good Faith Estimate
of Settlement Charges, a Finance Agreement, a Federal Truth-in-Lending
Disclosure Statement and a list of documentation required
to expedite the processing of your loan. You will be requested
to return these documents in a timely manner by mail or
fax. |
| Step Three: Processing and Appraisal |
| Processing
your file will allow us to complete the package for underwriting.
Ordering credit reports, title reports and appraisal is
completed in this step. In this phase, we will be completing
the file, gathering all documentation and "painting the
picture" for an underwriter. This process allows us to present
your case to the investor in the most favorable light. Our
ability to present your financial package to the lender
will allow us to secure the best rate in the least time
possible. This is where the final loan product is selected and the interest rate is locked in. If you know at any time what type of loan you want, and feel the rate is acceptable, we can lock your loan at any time. |
| Step Four: Underwriting |
This
is where the final decision is made by our onsite
underwriting department. With in-house underwriting you
will get an answer within 24-48 hours. They will review
your entire package and make their decision based on five
critical elements:
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| Step Five: Closing |
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Here is the
final step to the transaction. We will have the documents
sent to a closing facility near you. This is where you sign
the documents necessary to satisfy the lender. This is also
where any funds required for closing (such as down payment)
will be required. Once all parties have been satisfied,
the loan will "Close" and funds will be disbursed. If you have any further questions feel free to contact us at any time! |
