Mortgage Process

• Pre-Qualification - Contact us to pre-qualify you for a specific loan amount. With this information in hand, you'll have an idea of how much house you can afford while you are shopping for your home. The Pre-Qualification will also give you confidence as you negotiate with the seller of the home you intend to purchase. The Pre-Qualification is not an application however, only an exercise in numbers.

• Loan Application - As part of your Loan Application, you will need to provide income documentation and other important information. When you have assembled all of the items on the Application Checklist, you will be able to complete your application and submit it for processing. In addition, as part of the Loan Application, you select the loan product (fixed, ARM, etc.) that you would like.

• Processing - In this step, a loan processor verifies the information on your application, obtains a credit report, property appraisal and title insurance commitment. The loan processor then prepares your loan for underwriting.

• Underwriting - An underwriter compares your loan to standard guidelines. If they are met, an approval and loan commitment are issued. A loan closer will then contact you, your realtor or builder, and your attorney to arrange your loan closing.

• Closing - At closing, you will sign the mortgage, promissory note and other required documents transferring ownership from the seller to you. This generally takes place at the offices of the title insurance company. Congratulations! At this point, you are the proud owner of your new home.

• Loan Servicing - While your purchase is now complete, your relationship with AztecAmerica doesn't end. We will service your loan and answer any questions or concerns, as long as you have your loan. Just call our Loan Servicing Department at 1-708-637-9100.