Preferred Capital Mortgage Services - An affiliate of First National Bank of Chester County

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	8 Easy Steps
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Preferred Capital Mortgage Services
An affiliate of First National Bank of Chester County.
877-226-5242

Step One - Pre-qualification

(Pre-qualification provides an estimated building budget for the borrower)

- Verbal - Borrowers verbally provide their loan officer with income and debt information. A building budget amount is given at this time based off of the provided information. Pre-qualification is only as accurate as the information provided by the borrower(s). No application has been taken at this time. An online pre-qualification can also be done on our website: Pre-Qualify.

- Credit Report - The documented payment history of anyone issued a line of credit. For example: car loans, student loans, credit cards, etc. We recommend that borrowers allow Preferred Capital Mortgage Services to review a credit report at the Pre-Qualification stage. However, it is at the borrower's discretion.

- Time Table - Financing paperwork is recommended to get underway at least 60-90 days prior to breaking ground.

- Loan Amount - The loan amount provided in a pre-qualification takes into consideration the construction costs and land acquisition (if applicable). Please be advised that if the loan amount does not cover these expenses, the borrowers need to show the proper assets to cover the difference.

***It is VERY IMPORTANT to note that a pre-qualification is not a mortgage approval. The borrower(s) must make a formal application and an American Home Bank underwriter must issue a mortgage commitment letter that designates approval.***

Step Two


The contents on this site are provided solely for general informational purposes. Consult your respective mortgage advisor, tax professional, financial or legal consultant to discuss your unique situation. Company and Professionals Licensing Privacy Notice • Terms of service • Homepage

COMPANY AND PROFESSIONALS LICENSING

Preferred Capital and all divisions and affiliates of First National Bank of Chester County are currently exempt from state mortgage company and professionals licensing.
Preferred Capital and all divisions and affiliates of First National Bank of Chester County are regulated by the Office of the Comptroller of the Currency ('OCC').
All mortgage lending operations of Preferred Capital and all divisions and affiliates of First National Bank of Chester County are subject to the rules and regulations of the OCC. The OCC examines us annually.