• The Loan Process
  • The loan process can be very confusing, especially if you are a first time home buyer.  We have worked with many first time home buyers as well as "old pros." 

    It is important during the Loan Process that you keep the lender informed of any changes in your financial status.  It is also important to ask us about making any large purchases on credit during this process.  Depending on your situation, it is possible that a credit purchase could disqualify you for the loan due to debt-to-income ratio's.

  • Prequalification

    Prequalifying is the first step to purchasing your home.  During this process we will ask for information about you, your income and your assets.  We will also ask questions to determine what the best loan program is for your needs.  Not all loan programs are the same and even though you may qualify for more than one program, we want to make sure you are in the best program for your needs.

    During this phase of the loan process we will determine your mortgage payment comfort level, review your income and assets and look at your credit history.  With this information we will prequalify you for the loan amount and the loan program.

    After receiving your prequalification paperwork you can start looking for a house.

  • Base on the type of loan and your particular situation, there may be several documents requested of you during the loan process. Click here to see a list and description of the documents you might need to provide.

  • Loan Processing and Underwriting

    Once you have found the house of your dreams and a contract has been signed by all parties then we move into the loan processing stage. 

    During this stage of the loan process you may be asked for additional documentation.  It is important for you to provide all the documentation that is requested in a timely manner.  You will be signing your loan documents and locking your interest rate.  We will also order the appraisal and any other inspections that may be required.

    After receiving all of the documentation that we have requested from you and the appraisal and all inspections are complete, the file would then go to underwriting. 

    The underwriters will determine if the property and the borrower qualify for the loan program that they have applied for.  Once the loan has been approved by the underwriter, then the Closing Disclosure is sent to the borrower and your realtor will schedule a time for you to sign the loan closing paperwork.

  • Funding and Recording

    When you have completed signing the loan closing paperwork and the necessary documents have been returned to the lender, the loan will be funded.  The money to fund your loan is wired to the Title Company and the Title Company would then record your Note and Deed with the County that the purchase occurred in. Once the loan has recorded, you will receive the keys to your new home.