Mortgage Process Roadmap

Step 1: Contact us for pre-qualification

• Provide pre-qualification information.
• We'll give you a list of financial documents needed.
• We'll determine what you may qualify for and go over your options with you!

Step 2: Write a contract & make official loan application!

• Sign official loan application with us and provide any outstanding financial documents requested.
• This is typically when you lock in an interest rate.
• We'll order your appraisal and title work. Please note that an appraisal fee is collected when appraisal is ordered.
• Schedule your home inspection as quickly as possible.
• Obtain quotes for homeowner’s insurance and decide which agent you would like to work with.
• The loan process STARTS here.

Step 3: Behind the scenes loan underwriting & processing

• A Loan Underwriter reviews your loan file and issues a commitment to lend, provided required conditions are met.
• A Loan Processor obtains required conditions - including but not limited to employment verifications, IRS transcripts, updated bank statements and documentation required for gifts or liquidation of assets.
• Credit is monitored for new debt.
• Waiting on title work, appraisal and insurance.
• We may need additional information or documentation during this stage.

Step 4: Final loan approval

• The Loan Underwriter has received & reviewed all items required for approval, including appraisal and final inspection (if applicable), title and insurance.
• Note that changes (credit changes, employment changes, etc.) can still affect closing negatively at this stage!

Step 5: Closing disclosure

• Lists actual settlement costs.
• A preliminary copy is issued a minimum of 3 days prior to closing.
• You receive one figure for closing, which includes your down payment and settlement costs. This is payable to the settlement office by wire or cashier’s check, due at closing.

Step 6: Closing - CONGRATULATIONS!

• Sign final closing disclosure and final loan paperwork.

Step 7: Loan servicing transferred

• 1 - 2 months after closing.
• "Goodbye letter" from us and introduction to new servicer.
• Welcome letter from new servicer with detailed contract information.

NOTE: This guide is not all-inclusive. Information is accurate as of today's date and is subject to change without notice.