With American InterBanc’s Mortgage Loans, you should expect the utmost transparency possible when it comes to pricing and rates. The online application page is straightforward and easy to follow, which makes purchase or refinancing your mortgage process so much more efficiently giving you more convenience and lower rates. Create a home that meets your needs and taste while building your assets with the principal portion of the customer’s mortgage payments as the customer’s property value increases.
American InterBanc Mortgage Summary:
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- Account Type: Mortgage Loans
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Monthly Fee: No maintenance fees
- Closing Loan: Standard lock period is 45 to 60 days,
American InterBanc MortgageBasic Requirements:
- Review a number of factors during the mortgage application process including the customer’s income, current debt and credit history, assets and available funds, and we review the property itself.
- As part of the loan process, lenders will require a home appraisal to be performed. The appraisal will be ordered by the lender and processed through an appraisal management company and then completed by a licensed appraiser.
Below are examples of supporting documents which may be included in a loan file:
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
- Two most recent months’ bank statements. All of the pages.
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
American InterBanc Mortgage Features:
- Take control: Avoid rent increases and cancelled leases while creating a home that meets the customer’s needs and tastes.
- Build home equity: Grow the customer’s assets with the principal portion of the customer’s mortgage payments as the customer’s property value increases.
- Get tax benefits: Deduct mortgage interest and real estate property taxes on the customer’s income tax returns.
- Build the customer’s credit: Create a strong credit history by making on-time mortgage payments.
How To Lock In American InterBanc Mortgage Rate:
- Review Financial Consideration. Standard down payment amount is 20% of the home’s purchase price.
- Obtain Pre-Approval.
- Find a Home. A real estate agent can help you find properties for sale that meets your needs
- Complete Loan Application. Plan yo submit your application at least 60 to 90 days before you’d like to move into our new home
- Send your Loan Documents. You will need to provide a variety of documents verifying your information submitted in the loan application.
- Lock in your Interest Rate with American Interbanc Mortgage.
- Order your Home Appraisal. To determine the estimated market value of your property. Appraisers inspects the property.
- Provide Follow-up Documents. This is a time-to-time kind of thing.
- Closing State. Once you received final approval, you are ready for closing. You will be required to pay the cost of processing your loan application.
New home-owners, before you go out looking for a home, you need a completely transparent and affordable mortgage loan that will save you from all that unnecessary trouble that most new home-owners are presented with. With American InterBanc’s Mortgage Loans, you will be able to lock-in a low interest rate and find that new home you desire. The process is handled online, making the documentation gathering process 100% more easier, so if you’re looking to purchase or refinance a loan, American Interbanc may be a great option for you! Also, be sure to check out our Best Mortgage Rates!
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