Ameristar Mortgage Blog

Step One: Contact Us

You can access our latest rates 24 hours a day, 7 days a week online at this site. Ameristar Mortgage Corporation is open five days a week, Monday through Friday 8 A.M. to 5 P.M. CST and evenings and weekends by appointment.

At any time in your shopping process, Ameristar Mortgage Corporation’s highly skilled loan originators will be happy to assist you in finding the program that best suits your borrowing goals. Our staff is trained to give you straightforward, honest answers that make getting the right loan easy. Whether you want a Good Faith Estimate, or even a pre-approval, you never have to leave your home or office. Ameristar Mortgage Corporation will gather the proper information over the phone and fax or mail the necessary documents directly to you.

At this Web site, you can check our most recent rates, fees and closing costs, communicate with our staff through e-mail, submit a pre-approval, and even apply for a mortgage 24 hours a day, seven days per week.
 

Step Two: Applying

Apply online at this web site, download the application and fax it to us, or send the application by U.S. mail. You can also submit your loan application by phone with a loan originator or schedule an appointment (day, evening, weekend and in home appointments available); the process takes just minutes! Any way you choose to apply, Ameristar Mortgage will lock or float your rate based on your needs. If you close within your designated lock-in period we guarantee that the terms (rate and points) of your loan will not change.
 

Step Three: Confirmation of Application

Within 48 business hours of receiving your documents, complete documentation relating to your loan will be sent to you for your approval. Your package includes your typed application as well as other disclosures and written agreements, and a list of documents required to expedite the processing or your loan will be sent to you by e-mail and/or mail.
 

Step Four: Processing and Appraisal

Processing your file will allow us to complete the package for underwriting. Ordering credit reports, title reports and appraisal is completed in this step. We’ll order the appraisal from a licensed appraiser who is familiar with home values in your area. In this phase, we will be completing the file, gathering all documentation and “painting the picture” for an underwriter. This process allows us to present your case to the investor in the most favorable light. Our ability to present your financial package to the lender will allow us to secure the best rate in the least time possible.Title insurance will be necessary, if you are purchasing a home we’ll work with the real estate broker or seller to ensure the title work is ordered as soon as possible. If you are refinancing we’ll take care of ordering the title work for you. We’ll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents.

This is where the final loan product is selected and the interest rate is locked in (if it hasn’t been locked in already). If you know at any time what type of loan you want, and feel the rate is acceptable, we can lock your loan at any time.
 

Step Five: Underwriting

This is where the final decision is made by our onsite  underwriting department. With in-house underwriting you will get an answer within 24-48 hours. They will review your entire package and make their decision based on five critical elements:

1. Income
2. Assets
3. Liabilities
4. Collateral
5. Credit History

Step Six: Closing

Here is the final step to the transaction. We will have the documents sent to a closing facility near you. This is where you sign the documents necessary to satisfy the lender. This is also where any funds required for closing (such as down payment) will be required. Once all parties have been satisfied, the loan will “Close” and funds will be disbursed.A few days before closing your Loan Officer will contact you to walk through the final information.

That’s all there is to it! Apply Now and you will be on your way to the most convenient home loan ever!If you have any further questions feel free to contact us at any time!