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Mortgage Loans Basics

Mortgage Basics

Loan application process: An overview

Applying for a loan can seem confusing, but it doesn’t have to be. Follow the guide below to stay on track and improve your chances of being approved for a mortgage. When you’re ready to apply, contact our lending and mortgage experts and take the next step toward getting the right home loan for you.

STEP ONE: Application

  • Pre-qualification option

    If you are purchasing a home, you can streamline the process by getting pre-qualified. To get pre-qualified, you submit the information to apply for a loan, and based on your information ANBTX can pre-qualify you. This shows sellers that you are serious, and it gives you negotiating power.

    To pre-qualify you can apply online, leaving the property address blank. An ANBTX mortgage expert will help you discover the amount of loan you will qualify for, and can issue to you a pre-qualification letter to assist you in shopping for the right home. Once you have found that home, the approval process will go much faster.

  • Applying online

    Once you have selected a property and have a contract to purchase with the seller, the next step is to complete a loan application. You can do this easily, online via our secure application process.

  • Required materials and personal information you need to apply: 

    • Your Social Security number
    • Current pay stubs, W2s from your employer and your tax returns for the past two years
    • Bank statements for the past two months
    • Investment account statements for the past two months
    • Most recent retirement account statements
    • Credit card account information
    • Auto loan account information
    • Personal loan account information
  • If you currently own real estate, you also will need: 

    • Mortgage account information
    • Home insurance policy information
    • Home equity account information (if applicable)

    When the application process is complete, an ANBTX mortgage loan officer will review your application with you and order an appraisal of the property you have put under contract.

STEP TWO: Loan approval and funding

  • Your real estate agent or the seller will designate an escrow/title company to handle the funding of your loan, along with many other factors that make your purchase go smoothly. 

    Coordinate with the escrow team and sign all final papers. 
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