We make it quick and easy to apply for your new loan. You can easily apply online or contact one of our team members to apply over the phone or face-to-face. We will take your application information and obtain order your credit report to assist you in picking the right loan product.
Before submitting your loan for full approval, we must first gather your financial information to give us a full picture of your financial situation. Our documentation sectionwill give you a list of the most common items needed to complete your loan.
Once your application has been signed and documentation gathered, your file will be submitted to our processing department. Processing a loan may be better described as verifying information. There are many different systems we use to verify your information, so there may be additional questions or documentation needed throughout this process. This is also when the appraisal, title and updated homeowners insurance policy will be ordered.
The appraiser will contact you to set a time to view the property. This initial appointment at your home will only take about 15-20 minutes. Then the appraiser will spend hours researching comparable homes in your area that have sold within the past 6 months.
An Underwriter is the brain thrust of a lender. They determine if a loan is approved or rejected and under what terms. If your loan is not approved as submitted, then we take another look at it and see if we can change the loan program to better suit your situation. For instance, if you have applied for a 15 year mortgage, but your current expenses are a little high and the underwriter feels the new payment would be too taxing, we may switch you to a 30 year mortgage instead. Unlike most lenders, our Underwriters are in-house, which means we can get answers to your questions quickly.
Usually your closing will take place at our office. We will send a copy of your settlement statement for you to review prior to closing. The settlement statement has a list of all charges for the loan, along with a summary of your new loan (loan amount, loan type, monthly payment, etc). A member of our team will call or email you to make sure everything looks correct before the day of closing.