Mortgage Application Process

With so many options, which one is right for you?  We are committed to honestly and responsibly working with you to determine your affordable price range. There are many financing options available today, and some include low down payments. We will help find an option that fits your budget, and you may be surprised at just how much home you can afford.

Pre-approval

Getting a pre-approval on your mortgage can be a real time saving tool. A pre-approval gives you:

  • WRITTEN approval from a lender for a SPECIFIC LOAN AMOUNT so you know exactly what homes to look for and in what price range you can purchase.
  • The peace of mind of knowing that you’re being approved and financing will not be an obstacle in buying your home.
  • The ability to make an offer with MAXIMUM CREDIBILITY which shows the seller that you are serious about buying because you’ve taken the time to get pre-approved.

The list below shows the steps normally followed when you are applying for a mortgage.


Step 1: Initially you will meet with a Loan Officer or Mortgage Broker who will have you complete a residential mortgage application.
Step 2: The Loan Officer will then request a series of documents to support your income, your savings and your expenses.
Step 3: The Loan Officer will begin processing your application. At this time the lender will order an appraisal of the home, a copy of your current credit report and will make written requests to verify your employment and bank account balances.
Step 4: Within 3 days of completing your application, the lender will provide you with an estimate of closing costs and a booklet containing information about the closing costs you may incur in the transaction.
Step 5: Once the lender receives your credit report, appraisal, and all the written verification requests, your loan package will then be forwarded to the underwriting department. They will evaluate your loan package and will either approve or deny  your loan according to their own policies and guidelines.

Selecting the Best Mortgage for You

In today’s financing market, there are so many choices for you.  Now all you have to do is understand the options out there, and make a decision that best suits your situation. 

Selecting the Best Mortgage for You

In today’s financing market, there are so many choices for you.  Now all you have to do is understand the options out there, and make a decision that best suits your situation.

 

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