How it Works?

The following is a description of a normal process of obtaining a new mortgage loan with Great American Lending:

  1. Click on the Step 1 button above and fill out as much of the information requested and submit for a new mortgage loan quote. No personal information needed, just an email to send you the quote.
     
  2. Click on the Step 2 button above and go through our easy secure online application process.
     
  3. Click on the Step 3 button to review a list of the items that you may be asked to provide.
     
  4. A very nice and experienced loan officer will call you to have a 5-10 minute phone conversation to review your application and confirm we are getting you exactly what you are wanting.
     
  5. A credit report is then pulled and imported into your application.
     
  6. The loan application and disclosures are sent to you via email for your review and signatures.
     
  7. After you approve the application and disclosures, you will return them signed and dated via fax (800-660-9110 – fax) or email to Great American Lending. The loan is then submitted for initial underwriting approval. The interest rate may be locked for Purchases at this time as long as the purchase contract (REPC) is fully signed. Refinance transactions may lock the rate at this time.
     
  8. Great American then orders the appraisal & title work (a credit card will be needed to order & pay for the appraisal and credit report at this time).
     
  9. Once the appraisal and title work are received, the loan is then submitted for FULL underwriting approval.
     
  10. When full approval is received, we work on any conditions the underwriter might have in order to give us final approval. The homeowners insurance binder is now ordered.
     
  11. Interest rate needs to be locked soon if not locked.
     
  12. Once final approval is obtained, we order all closing documents and setup a time to sign at the Title company (often times we can arrange for you to sign in the comforts of your own house).

This process is easily completed within 2 – 4 weeks.