Step #1: Pre-qualify for your loan

You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information we give you a Pre-Qualification letter. Your agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step #2: The Loan Application - We make it easy!

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at our website or you can come into our offices for a face to face loan application. The application is actually the beginning of the loan process. During this step you will complete a mortgage loan application, disclosures, and borrowers authorizations with the loan officer. At this time you will need to supplies all of the required documentation. Some items required include: Bank Statements, W-2’s, Paycheck Stubs, Drivers License, Social Security Card, Child Support Agreements. Your will receive a Good Faith Estimate (GFE) and a Truth-In-Lending statement (TIL) within three days that itemizes the rates and associated costs for obtaining the loan.

Step #3: Processing

The processor reviews the credit reports and verifies the borrower's debts and payment histories as the various verifications are ordered. For example’ the VODs (verification of deposit) and VOEs (verification of employment), and/or VORs (verification of rent). If there are unacceptable late payments, collections for judgment, etc., a written explanation is required from the borrower. The processor also reviews the appraisal and survey and checks for property issues that may require further discernment. The processor's job is to put together an entire loan package that may be underwritten by the lender.

Step #4: Underwriting

The underwriter is responsible for determining whether the loan package submitted by the processor is deemed as an acceptable loan. If more information is needed, the loan is put into "suspense" and the borrower is contacted by the loan processor to supply more documentation.

Step #5: Clear to Close and Pre-Closing

As above, if more information is needed the loan goes into suspense - (Going into suspense can delay the closing date) Otherwise it is usually returned back to the processor at the mortgage company and we proceed to the next step. During this time the title insurance is ordered, all approval contingencies, if any, are met, and a closing time is scheduled for the loan.

Step #6: Your closing

At closing, the lender "funds" the loan with a cashier's check, draft or wire to the selling party in exchange for the title to the property. We'll coordinate with the title company to make sure all the papers the lender will need are in order, and you'll sign everything at the title company's office. Once the funds are received you are given the keys to your new house. This is the point at which you finish the loan process and actually buys the house. Congratulations! You are now a new homeowner!