The first step in the mortgage loan process is to become pre-approved. Your loan application will start the journey of buying your dream home.
 

Select “Get Pre-Qualified” to get started.

STEP 1  PRE-QUALIFICATION

The lender pre-qualifies the borrower for a mortgage prior to the identification of a specific property.

STEP 2  RATE LOCK

The lender issues a written agreement guaranteeing the borrower a specified interest rate, provided the loan closes within a set period of time. To lock a rate the applicant must have a ratified contract and an established settlement date.

STEP 3  LOAN DISCLOSURES

This lender offers the official estimate and loan disclosures. The applicant must receive these documents within three days of the loan application. The documents need to be signed and returned to the lender as soon as possible.

STEP 4  APPRAISAL

An appraisal is a written analysis of the estimated value of a property prepared by a qualified appraiser. This process is performed to make sure that the property is of fair market value and supports the agreed upon purchase price.

 STEP 5  PROCESSING & UNDERWRITING

The processor prepares the file for underwriting. The Underwriter completes a review of documents for final approval. It is common for the Underwriter to request additional explanations or documentation during the process. The processor relays these conditions to the borrower.

​STEP 6  INITIAL CLOSING DISCLOSURE (ICD)

The Initial Closing Disclosure (ICD) must be provided and acknowledged by the borrower no less than three (3) business days prior to settlement. Per compliance, the loan will not be able to close until the 3rd business day after acknowledgement.

​STEP 7  FINAL CLOSING DISCLOSURE (CD)

​Settlement is a meeting conducted by the title company in which the sale of a property is finalized with the buyer signing the mortgage documents and the seller transferring ownership. Prior to settlement, we will send you the final CD which will have the final figure for cash required for closing.

Do’s & Don’ts
 

HERE IS A LIST OF HELPFUL TIPS TO HELP EXPEDITE THE LOAN PROCESS. THESE DO’S AND DON’TS WILL HELP AVOID ANY DELAYS WITH YOUR FINAL APPROVAL. 

-DO try to get your loan documents and checklist items back to us ASAP
-DO continue making your mortgage and/or rent payments
-DO stay current on all existing credit accounts
-DO continue living at your current residence
-DO continue using your credit as normal
-DO call us with any question
-DO keep documentation for all non-payroll deposits
-DO know from what account money for closing will come
-DO know that funds for closing need to be certified check or wire (Check with your title company)

-DON’T make unnecessary banking transfers
-DON’T change banks during the process
-DON’T pay off any loans or credit cards without discussing with us
-DON’T make any major purchases (car, jewelry, boat, etc.)
-DON’T apply for new credit (even if already pre-approved)
-DON’T open any new credit card
-DON’T pay off any collections without a discussion with us first
-DON’T pay off any charge off without a discussion with us first
-DON’T transfer any credit balance from one account to another
-DON’T take any credit card advance
-DON’T dispute any credit accounts
-DON’T close any credit card accounts
-DON’T change employment status or compensation type without checking with us first
-DON’T start any new home improvement projects