With American Bancshares Mortgage you are working directly with the lender, eliminating any broker or middle man. This translates into big savings, competitive interest rates, and quick underwriting turn times. So sit back, relax, and enjoy the home buying experience as we seamlessly take you from application to closing in record time – The American Bancshares Way!
At American Bancshares Mortgage we do not see ourselves as simply providers of a service but also as sellers of goods. Accordingly, we strive to not only offer exceptional service, but a quality loan product to match. In doing so we have transformed the loan application process into a science by infusing the teachings and strategies of six sigma into the various stages of the loan process.
These various stages are referred to as “milestones” with each allotted a certain amount of time before they must be moved onto the next milestone. If a loan falls outside of the milestone benchmark, it is quickly flagged by our tracking department. This tracking system alerts us of a potential problem and enables us to get ahead of a situation and quickly find a solution. With American Bancshares, every loan is held to the highest standard of perfection!
American Bancshares Mortgage is here to help you make your dream of homeownership a reality; it all begins with our online stress-free mortgage application.
Buying or refinancing a home does not have to be stressful, we have taken out the stress and replaced it with joy- at American Bancshares Mortgage the mortgage application process is joyful!
The best way to start the process is to gather all of your financial documents. Next, speak to your Mortgage Loan Originator and complete your online mortgage application. Keep in mind that additional documents may be needed later in the process.Apply Now
When completing the online application be as thorough as possible. If you have questions reach out to your trained Mortgage Loan Originator for guidance, discuss homeownership goals, and expectations.
Once we have a complete loan application we will provide you with your loan estimate. The loan estimate will be provided to you within 3 days of us receiving your complete loan application. We also suggest that you go to the Consumer Finance Protection Bureau website and become familiar with your rights and protections as a homebuyer. The CFPB was created to protect you and your interests.
Once we have electronically received your intent to proceed your loan will go through our initial quality control set up. At this stage, the loan opener will review your credit file and order services, such as appraisal, 4506’s, verifications of employment, and assets.
Once the loan reaches the processing milestone, the loan processor will ask for additional documents and letters of explanation. It is very important that the client works closely with the loan processor, and returns the requested documentation as soon as possible. The reason the processors ask for additional documentation is that every loan needs to meet specific eligibility criteria for loan approval. The processors are junior underwriters, they know the requirements of the loan program and assure the loan file has all the data required to receive final approval from the underwriter.
The underwriter reviews the complete loan file- credit, appraisal, title, income, assets. Upon complete review the underwriter certifies that the loan meets eligibility criteria to receive loan approval.
This is your last step prior to closing. You will receive a closing disclosure 3 days prior to the closing date, upon confirmation of receipt of closing disclosure we can work with your attorney or title company to schedule your closing.
Congratulations are in order, this completes the last milestone of the Loan Manufacturing Process!
The following information is usually required during the loan process. Not all documents may be required for every situation. If you have any questions our staff will be happy to assist you.
Servicing the community is driven by our core values of commitment, integrity, and transparency. Many of our team members and most of our senior management have sat in every chair of the mortgage industry, providing us with a full understanding of the business from all aspects. This in-depth knowledge is what allows us to quickly and efficiently adapt to industry change, while constantly providing you with superior processes and first-in-class customer service.
We have leveraged technology to bring you a simple, straightforward, online stress-free mortgage application experience.
Your information is confidential
and will not be shared.