The loan process is different in many parts of the United States. The general sequence of events that takes place during the processing of your loan is explained below. Pennsylvania has different lenders with their own requirements. Below are descriptions that are meant to give you a general idea of what is required to go from applying for a loan to closing the loan.

Choose a topic below: 1. First step - the loan application. 2. What happens next after I fill out the application? 3. Do I have to meet in your office? 4. What does it mean when my loan is approved "with Stipulations"? 5. What is the closing process?

1. FIRST STEP - THE LOAN APPLICATION As might be expected, the first step in obtaining home loan financing is to fill out the loan application. This is called a "Fannie Mae 1003" or "Uniform Residential Loan Application". Our experienced loan officers will be happy to assist you in filling out the loan application if you should have any questions. We will make an appointment to meet with you at your convenience if you desire. Whether you choose to meet with us or fill in our online application, you will eventually need to provide us with some personal and financial information (click here) for a list of what you need to provide). If you are unable to provide some of the required documents immediately, you can provide them to us at a later date before your final approval.

2. WHAT HAPPENS NEXT AFTER I FILL OUT THE APPLICATION? Once you have completed the application, we will obtain your credit report and call or e-mail you with our mortgage suggestions. Next we will obtain 2 or 3 or more pre-approvals for your review. When you give us the "OK to go forward", we will order your preliminary property report from the closing company and your property appraisal. During this period you will be responsible for getting your income and other documents to A-1 ANY CREDIT MORTGAGE. Upon receipt of all of the above, final loan approval and closing will occur.

3. DO I HAVE TO MEET IN YOUR OFFICE? NO! It is possible to complete the loan process without attending a meeting in our office. This can be done by doing one of the following: Fill out our on-line application and we will call you to discuss, or Fill out our on-line application then print and fill out the Fannie Mae 1003 application and fax to 412-3640-6060 or email to A-1AnyCredit@ComCast.net or mail completed and signed 1003 application to: A-1 ANY CREDIT MORTGAGE  3357 BABCOCK BLVD. PITTSBURGH, PA 15237 Or call us toll free at 1-866-364-5550 and we will do it all for you.

4. WHAT DOES IT MEAN WHEN MY LOAN IS APPROVED "WITH STIPS"? Your loan may be approved as submitted, approved with stips, or a counter offer may be made for your consideration. If there are conditions on the loan in order for it to be approved as submitted, we will work with you to satisfy these conditions. Stips might include an explanation letter of some sort, copies of checking or savings, copies of divorce papers, or any number of things that may help clarify your qualifications for the loan. After the loan conditions are met (if any) and the loan is approved, the necessary documents are prepared for closing. The lender will draw up the necessary documents along with any (prior-to-funding) conditions that have yet to be met, and in most cases send them to a closing company near you to be signed by you. Your loan officer will arrange for an appointment with you to close the loan documents are ready to be signed.

5. WHAT IS THE CLOSING PROCESS? Your mortgage broker will arrange for and interface with the closing company. The closing company is responsible for closing the loan. This company is responsible for gathering together all of the necessary documents (deed of trust, promissory note, etc.) and making sure all documents are signed. Following the lenders instructions, the closing officer then calculates the various prorations, charges and adjustments (interest on your old loan, interest on your new loan, money for escrow accounts for taxes and insurance, etc.), makes sure all of the funds are deposited (if any) and provides you with a settlement statement showing all of the costs involved in the loan. Whoever handles these escrow responsibilities also makes sure that all of the parties involved in the loan process are paid after the funding of the loan. Your loan will then close and your new loan will be recorded.

For Immediate Assistance, Please Call Us Toll Free At 1 866-364-5550