mortgages

Loan Process

Step 1. Organize Your Documents
Prepare these simple items before you talk or meet with us.

  • Last 2 Year’s W2 and Tax Returns
  • Most recent 2 consecutive Pay-Stubs (ALL Jobs)
  • Most recent 2 months of Bank Statements (Checking, Savings)
  • Purchase Contract (If available)
  • Green card or Visa if NOT US Citizen
Step 2. Get Pre-Qualified
Find out how much you will qualify for.

When buying a home you can be pre-qualified or pre-approved over the phone or on the internet in a few minutes. You can either fax or email us the required documents in Step 1. It is highly recommended that you be pre-qualified or pre-approved before you start looking for a home.

Being Pre-qualified or Pre-approved will:
  1. Inform you of your maximum affordable home value, and save you from previewing properties outside your price range.
  2. Put you in a stronger negotiating position with the seller, because the seller will know your loan is pre-approved
  3. Help you close quickly, since your loan is pre-approved.

Step 3. Let's Talk Loan Programs and Payments.
We will help you select the right mortgage loan program to fit your financial needs. Depending on your qualification, we might be able to give you a variety of options to maximize your borrowing power or save you money.

We will also give you payment examples on different price range that you will qualify for. This will help you in making the right decision and offer comfort realistically in what you can afford.

Step 4. Shop for your Dream Home!
Now that you’ve done your homework, it’s time to enjoy looking for that special place that you can call home!

Keep in mind: Location, location, location!!!

Step 5. Completing the Mortgage Application.
After you have secured a fully executed purchase contract (meaning your offer was officially accepted by the seller), it’s time to sign a residential mortgage loan application. We will set up a time and date to do this.

Step 6. Submit for Underwriting Approval.
This is where our completed application gets submitted then reviewed by an underwriter (UW). Depending on how busy funding lenders are, the underwriting process can take between 3 to 4 weeks from start to finish after the initial submission to underwriting. The property is appraised to determine market value.

Next we will get an initial approval that will contain items (called as underwriting conditions) to satisfy towards getting a clear to close.

Step 7. Closing Your Loan.
After getting a clear to close, your loan will be scheduled for closing where the buyers, sellers, attorneys and a title closer will be working together to sign the final documents approved by the funding lender.


Congratulations on your new home!!!!


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