Our Loan Process
We make the mortgage process simple and transparent. Here's what to expect from application to closing.
Find Out How Much You Can Borrow
The first step in obtaining a loan is to determine how much money you can borrow. In case of buying a home, you should determine how much home you can afford even before you begin looking. By answering a few simple questions, we will calculate your buying power based on standard lender guidelines.
You may also elect to get pre-approved for a loan which requires verification of your income, credit, assets and liabilities. It is recommended that you get pre-approved before you start looking for your new house so you can:
- Look for properties within your range.
- Be in a better position when negotiating with the seller.
- Close your loan quicker.
Select the Right Loan Program
Home loans come in many shapes and sizes. Deciding which loan makes the most sense for your financial situation and goals means understanding the benefits of each.
Fixed-Rate Mortgage
Interest rate and monthly payments remain the same for the life of the loan (typically 15 or 30 years). Best if you plan to stay in your home more than 7 years and prefer payment stability.
Adjustable-Rate Mortgage (ARM)
Lower initial rate that adjusts periodically based on market conditions. Best if you plan to stay less than 5 years or expect your income to increase.
Apply for a Loan
Complete your application online or with your loan officer. We make the process simple and guide you through every document required. You can start your application right now.
Loan Processing & Underwriting
Once your application is received, we begin the loan approval process immediately. Your loan processor will verify all information you have provided. This includes:
Income & Employment
Is your income sufficient to cover monthly payments?
Credit Check
Your credit report is reviewed to determine loan terms.
Asset Evaluation
Do you have funds for the down payment and closing costs?
Property Appraisal
The property is appraised to determine market value.
To improve your chances of approval:
- Fill out your application completely and respond promptly to document requests.
- Do not move money without a paper trail. Keep records of all transfers.
- Do not make any major purchases until your loan is closed.
- Do not go out of town around closing without arranging a Power of Attorney.
Close Your Loan
After your loan is approved, you sign the final loan documents in front of a notary public. Review all documents carefully to ensure the interest rate and terms are what you were promised.
Bring a cashier's check for the down payment and closing costs. Personal checks are normally not accepted. You will also need to show your homeowner's insurance policy.
On owner-occupied refinance transactions, federal law gives you 3 days to review documents before the loan can close.
Ready to Get Started?
Contact us today for a free consultation. We'll guide you through every step.