The Mortgage Process - What to Expect

the mortgage process: what to expect

Communication is essential during the loan process. Rest assured, our lenders will provide timely updates, via e-mail, to ensure you are up to speed and understand where you are in the process. We have simplified this process into six steps (outlined below) although some parts may overlap. Please keep in mind that due to the nature of a mortgage loan, it’s possible you may have to repeat a step.

Step 1 – Getting Started

The first step is completing an application. Financial information, including your credit rating, may be collected and we will ask for paperwork to confirm your employment status and income. Don’t worry, these are things you probably have on hand: pay stubs, tax returns, etc. 

Step 2 – Bringing it Together

The next step is combining your application with the documents you provided in step one. We will review these items and it may be necessary to provide us with additional paperwork, depending upon the type of mortgage you are seeking. If an appraisal is required, it will be ordered during this step.

Step 3 – Reviewing the Facts

The third step is reviewing the application and associated paperwork in great detail. We will verify your income and assets. We will also review the guidelines to ensure we have crossed all of the “T’s” and dotted all of the “I’s.” Congratulations, you are halfway there!

Step 4 – Meeting the Criteria

Some applications may meet the initial loan criteria, but require a few additional items to move it forward. If this is the case with your application, we will explain what is needed and help you collect the information needed to complete the process.

Step 5 – Getting You Home

This is the final step in the mortgage process. If there are any remaining details, we will let you know and ensure all of our ducks are in a row. Get your pen ready ... there are closing documents to sign!

Step 6 – Home Sweet Home!

Congratulations! The process is complete. Enjoy your new home and be sure to mention us to your family and friends.

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