.png)
The Mortgage Process
Buying or refinancing a home is about you and your home, not about the mortgage. We've streamlined the process for both into easy steps. Once you have the financing you need you can focus on what really matters: your home.
Step 1: Select The Type Of Loan You Want
Answer some basic questions to see the loan options that may best fit your needs. We provide a variety of loan options based on:
- Your monthly income.
- How much you owe on your current mortgage (for new purchase or refinancing).
- How much you want to spend on your new house.
- How much you have to use for a down payment.
- How long you're planning to stay in your new home.
- How much flexibility you have with your monthly payments.
You will be able to preview a variety of loan programs and pricing options. Use the Estimated Closing Costs tools to view the costs associated with a specific loan program. Once you make your selection, you're ready to apply for that loan.
Have questions about our different loan products? Just Contact Us.
Step 2: Apply For The Loan
We've pared our loan application down to the most essential information. Here's what we need to know:
- Borrower information - Basics about you.
- Property information - Basics about the property you want to finance.
- Income - What you make.
- Assets - What you plan to use for the down payment and closing costs.
- Liabilities - What you owe and to whom. We will run a credit report to confirm liabilities and complete that section of the application for you. (You'll have a chance to review and make any corrections, if necessary.)
- Declarations - A few more questions to complete your application.
Step 3: Preliminary Credit Approval
- Provides preliminary approval of a specific loan amount and loan program based on your stated income and debts.
- Is legally subject to underwriting the property you are financing and verification of the information you've provided on your application.
Step 4: Processing Your Loan
When we process your loan:
- Information you've provided on your loan application is verified. We will request minimum documentation to verify assets and income.
- Property will be reviewed by ordering an appraisal, title report and flood certification on the home.
- An Appraisal/Valuation Fee Deposit is required for these services and will be applied toward your closing costs.
- Applicable disclosures are sent out so you have a chance to read through them.
Step 5: Final Approval Of Your Loan
Final loan approval involves:
- Underwriting of the property.
- Loan application information. We will underwrite the information received and give final approval to prepare the loan for closing.
Step 6: Sign Your Documents & Disbursement
With final loan approval:
- We prepare the loan documents and send them to an escrow company for you to sign.
- Once we receive the signed documents, we'll transfer the money to the escrow company.
- The escrow company will then disburse the loan and record the documents.
