LOAN PROCESS

Every purchase starts with an application. We need you to provide us with all the information we need to make a list of loan programs and payment options that best suit your condition. Our application process will usually take just a few minutes.

Normally, we collect basic information like your full name, phone number, and email so we can stay in touch and communicate during the process. We also need to collect other details that will help us determine which mortgage program fits all your needs.

When you work with us, you'll have a dedicated loan officer or mortgage broker who will provide options that fit your situation. Your mortgage broker is going to guide you throughout the whole loan process, work to help you select the best deal, and answer any questions you have.

You will be provided with a pre-qualification letter, which is a document that will allow your realtor to evaluate and compare properties that best suit your loan and home requirements and needs. This letter is going to contain our company information, the mortgage loan amount approved, the borrower's name, the program approved, and other details. You give the letter to your realtor and the loan process continues.

Your realtor will help you find the right property for the loan amount approved. They will also consider your home requirements and needs, like property area, the number of bedrooms, neighborhood options, and more.

Once you choose the home, your realtor will advise you and help you make offers to the seller, and negotiate a purchase price.

When both parties reach an agreement on the terms, your real estate agent will forward a copy of the sales contract to us so we can have every detail ready for you by your closing date.

Once we have your sales contract we start processing it to establish a loan estimate and work up the required disclosures for you to fully review. If you agree with all the statements, you permit us to proceed. After that, your loan will be set up and processed as we create the necessary documentation and work to get everything in place to make you a homeowner.

Most mortgage loans require that a third-party appraiser review the property to make sure you're paying for its real worth. The appraiser assigned to your case will evaluate your property, taking into account a set of standards. Afterward, they will send a report back to us for review. We usually work with the appraiser assigned by the bank for this part of the loan process.

As soon as your appraisal is complete, an insurance agent or underwriter will look at all aspects of the mortgage loan, like the contract, supporting documentation you provided, the appraisal party, and other important details. When the underwriter is satisfied with all the information reviewed, your mortgage loan is moved to a "Clear to Close" status.

After the insurance agent issues the final approval, we will give you a Closing Disclosure to fully review. At the same time, we will prepare your mortgage loan documentation for the title company. We'll also provide you with the exact amount required to close and instructions on how to make that payment.

On closing day, all the documents will be ready for you, you will sign all the paperwork needed and get keys to your new home!