American Life Homes has established relationships with several national mortgage companies. These companies boast experienced professional mortgage officers that have a presence in the Dallas, Ft. Worth and Northeast Tarrant County markets. These officers can provided complete, efficient and timely mortgage services, all of which will facilitate and expedite your mortgage loan process. Mortgage professionals can make this part of your new home purchase non-taxing as well as pleasant. You are not required to use mortgage sources provided by American Life Homes, however mortgage sources must be approved by American Life Homes management. A complete listing of approved mortgage sources is available from an American Life Homes Sales Counselor. The mortgage officers and links listed below will provide you with helpful information, tools and applications for your mortgage loan process.
131 Quest Court Keller, TX 76248
Sean Bone, Senior Loan Officer
(817)741.7526 Office Direct
(469)519.3909 Fax Direct
Legacy Texas Bank
900 South Main St, Grapevine, Texas 76051
Mark Dennis, Vice President
(817)287.5856 Fax Direct
GETTING STARTED WITH MORTGAGE INFORMATION
Understanding the mortgage process requires ongoing exposure to an ever changing mortgage market. Knowledgeable mortgage professionals will prove invaluable in obtaining a competitive mortgage in a timely fashion. American Life Homes has established working relationships with quality established mortgage sources. Links to mortgage sources where you will find helpful resources such as mortgage calculator, helpful suggestions, tools and on line submittal for pre-qualification and loan approval are provided to assist you in your mortgage process. You will encounter a need to gather information and submit that information as you complete the mortgage process. Your professional mortgage consultants will make the process understandable and easy for you. Information will be collected on the primary borrower and the co-borrower.
STEP 1: Pre_Qualification- Prior to the actual mortgage loan process, preliminary information must be submitted to determine the amount you can borrow for your home purchase. A credit report will be ordered to be used in determining your pre-qualification mortgage amount and for submittal with your loan application. Various mortgage programs can provide varying pre-qualification amounts. Once you know your pre-qualification amount you can chose the home that is right for you and your family.
STEP 2: Loan Application-Your pre-qualification approval enables you to submit a Loan Application. Verification of employment, income, bank balances, loan balances, etc. will be required. This information can be submitted in person to your loan consultant, electronically or by mail.
STEP 3: Loan Processing- Your credit report will be reviewed. Verification of outstanding loan balances, child support(if applicable), credit payment history, collections and judgments (if applicable) or any credit related concerns will be considered in the mortgage loan process. All sources and amounts of income, cash and assets should be submitted, the number of dependents you will claim also affects your mortgage loan approval.
STEP 4: Underwriting Your total submittal package will be reviewed and the lender will determine if you qualify for the loan you requested. Additional information may be required. Various programs exist to meet varying underwriting requirements, these varying programs can offer alternative financing programs if necessary. If your down payment is less than twenty percent of your home purchase price you will be required to purchase Private Mortgage Insurance (PMI), the premiums for PMI can be paid in total at the closing of sale of your home or can be included in you monthly mortgage loan payment.
STEP 5: Closing You have been approved for the mortgage loan you requested, all aspects of the loan package are complete. Prior to completion of your new American Life Home, a closing date has been established. Your mortgage loan closing will take place at closing attorney’s office or at the title company office.