LOAN PROCESS: Home Mortgage Loan, Refinance Rates
Contacting Us
We are open Monday through Thursday 9:00 a.m. to 7:30 p.m. Friday 9:00 a.m. to 5:00 p.m. Eastern Standard Time. Our highly skilled loan officers will provide you with a free loan analysis. By answering just a few questions, we will be able to recommend loan programs tailored to fit your needs.
Applying for a Loan
The application process is free, easy and fast. You can apply for a mortgage instantly by phone (1-800-803-8008), the process takes about five minutes. You can also apply on-line at this web site. Whichever way you choose to apply, we will help you to obtain a fast approval so you will know the loan amount you qualify for almost immediately.
Verifying Your Application
Within 3 business days, you will be sent complete documentation relating to your loan. This package will include a Good Faith Estimate, a Truth-in-lending Disclosure statement, and a list of documentation we will need in order to facilitate the processing of your loan.
Processing Your Loan
Once you and your loan officer have decided on a loan program that best suits your needs, a home appraisal will be scheduled. The appraiser's review will be sent to your loan officer who will then submit your loan application, appraisal and list of documentation to the processing department. A loan request file will be created and organized for an initial review based on income and credit worthiness. Once your loan is fully processed, it will be sent to the underwriting department.
Underwriting Your Loan
The underwriting process is the time when you will receive your loan approval. Your loan request will be reviewed in comparison to factors such as credit, income, debt to loan request will be reviewed in comparison to factors such as credit, income, debt to income ratios, savings accounts and property appraisal. This process usually takes between 2 to 3 business days. If any matters arise during the underwriting process, your Loan Officer will contact you with instructions on how to satisfy underwriting conditions. Typically, a loan is approved quickly. Sometimes, additional documentation is needed or the loan program needs to be slightly adjusted. in either case, your Loan Officer will help you through every step of the loan process.
Closing Your Loan
After your loan request has been approved, we will prepare the closing document package that will be supplied to the closing attorney. The closing of your loan typically occurs within three days of your loan approval.