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Initial Conditional Pre-Qualification

The first step in the mortgage process is always to complete a loan application. This is a very simple, but important part of the process. A loan application can be completed online, over the phone, or in person.

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Loan Qualification

The loan consultation is provided to ensure your mortgage is structured to your unique and individual needs. A total cost analysis (TCA) is provided that will compare various loan options and scenarios.

 

Gather Your Necessary Loan Documents

You will be provided with a list of required documents required for your loan. These documents will need to be gathered and provided to your Loan Originator for their review.

 

Signing Your Initial Loan Disclosures

Once you have an agreed upon contract between you and the seller, you will sign your initial loan disclosures. Most documents can be signed electronically and some will need a "wet" signature, meaning they will need to be printed, signed, and emailed/faxed back to your Loan Originator.

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Loan Submission and Processor Review

Once you have provided all loan documents and have signed all initial loan disclosures, your file will be submitted for the Processor's review. At this time, all documents are organized to ensure your file is prepared for the next stage of the process. 

 

Underwriter's Review

The Underwriter will review your file and issue a "conditional" approval or denial. Typically, the appraisal is ordered during this stage. The Underwriter may request additional information for further review and clarification. This could include, but is not limited to, additional paystubs, bank statements, a letter explaining your unique situation, etc.

 

Final Loan Approval

After providing clarification documents that are acceptable to the Underwriter, he/she will issue a full approval and clear your loan to close.

 

Closing Disclosure & Money Disclosing

Your closing disclosure will be sent to you for your review at least three days before your scheduled closing and must be signed three days before closing. The closing disclosure will detail all of the final closing costs and terms of your loan, including how much your required cash to close will be.

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Closing

YOU HAVE MADE IT! You will sign all final loan documents with the closing agent and receive the keys to your new home.

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