Learn About The Mortgage Loan Process

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Step 1: Get Organized

You have decided to purchase a home, congratulations! Taking time to gather all of the required documents before you apply can make things easier later and speed up the process. Click here for a full checklist of what you’ll need during the application process.

Step 2: Get Pre-Qualified

As you begin the home buying process, it can be helpful to get pre-qualified for a loan. This step helps you determine how much of a mortgage loan you can afford, which will come into play when it’s time to make an offer on a new home. If you choose to get pre-qualified, we will use the information provided in the pre-qualification to complete your full application.

Step 3: Apply for a Loan

When you apply for a loan you will be asked about the property you wish to purchase, along with your personal finances. We will review your application and determine if you have been approved. If you are approved, you will receive a loan estimation statement detailing your loan rate and annual percentage rate (APR). The APR will contain all of the fees that are factored into what your mortgage will cost.

Step 4: Get a Property Appraisal

We will coordinate the property appraisal, after which we will contact the closing attorney to prepare the title search and arrange a title insurance binder. A copy of your appraisal will be provided as soon as we receive it.

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Step 5: Underwriting Process

After your property appraisal is complete, we will review the documentation you provided at the application of your loan. If all documents have been submitted and meet our underwriting standards, the underwriter will issue final loan approval.

Step 6: Determine a Closing Date

We’ll work together to determine a closing date that is convenient for you and your real estate agent. Your loan officer will also confirm any final details with you at this time.