Understanding The Mortgage Process

Upon receipt of your application, we will verify necessary financial information. Some of the items we will order and verify:

• Credit Reports
• Property Appraisal
• Employment Verification
• Funds on Deposit
• Outstanding Loans and other debts

Loan Set Up: We have a system that automatically begins your title and appraisal work.

Approval: An underwriter then reviews your file within 48 hours of receipt. You will be called when your loan is approved. Your approval will then be issued and a commitment letter will be sent to you either via mail or we will fax it to you upon your request.

Loan Commitment: PLEASE READ YOUR COMMITMENT LETTER CAREFULLY! Your mortgage commitment letter will outline the terms and conditions of your loan and will list any conditions that are required from you in order to complete the mortgage process.

Clear to Close: When all of the conditions have been reviewed and approved, then the closing date can be confirmed. You will be notified when your loan achieves this status.

Loan Closing: Your closing attorney’s name and number will be listed on your commitment letter. You should call the closing attorney to establish your closing date. A closing checklist will be furnished to give you an idea of what documentation may be needed at your closing.