Loan application: After reviewing the loan options we have available to help you finance your home, you can submit a loan application in person with our mortgage lending staff to determine initial credit approval. Here’s a mortgage application checklist to assist with the process.
Initial Credit Approval: Once the application is submitted, we’re able to pull a credit report and determine approval based upon the credit report and information contained in the application.
Disclosures: Disclosures will be sent to you within three(3) days of your completed application.
Documentation request: Once disclosures have been reviewed by you, we will provide you with a list of documentation needed to process the loan.
Appraisal/Title Insurance: An appraisal and title insurance will be ordered by us for the property you are looking to purchase or refinance. This step can begin during the time your financial information is being gathered.
Loan approval: Once the appraisal/title insurance and verified financial information is received, the loan is ready to be submitted for underwriting for an official loan approval. Additional conditions may be added at this time.
Closing of the loan: Once all conditions are cleared, loan documents are prepared and sent to the title company. Final closing documents are prepared by the title company and it’s time to schedule your closing. Once the signed documents are returned to the lender, loan proceeds are disbursed after any applicable rescission period expires.