1. Get Pre-Qualified
We will pull your credit and collect all necessary documents: 2 years tax returns with your W2s or 1099s, 2 most recent paystubs, 2 most recent bank statements; these are the most common.
We will get your monthly debts, calculate them against your monthly income to get your max budget. We will also find loan programs you qualify for and select the best program for you.
2. Shop with an Agent
This is the fun part! Working with an agent is key. They have access to properties that are not listed on popular websites like Zillow. The agent learns about your tastes and what you are looking for and can send you properties every day to your inbox.
During this process, keep sending us your updated paystubs and any bank statements that may come out during the shopping process.
3. Loan Application & Process
The first part is the mortgage application. This is when we sit down and eSign documents and wet sign a few additional ones. During this time, you will be scheduling inspections on the property with your real estate agent.
Once the inspections are done, we order the appraisal. During this time, your loan application moves into Processing. This is when our team collects all of the documents necessary for the underwriter. We may reach out to you for one last item!
The next step is when your file moves into Underwriting. The underwriter will look at everything that was provided by you and underwrite the file to the loan programs guidelines. After they look at everything, they issue a Conditional Approval. This means the loan will be approved, once a few “conditions” are cleared. Typically, conditions are letters of explanation from you describing what a deposit on your bank account is or why is your income a certain way. This is when we reach out to get the final items we need to get Final Approval.
Final Approval means the underwriter has made sure you met all necessary guidelines and will send the file to closing. This is when we send out the Closing Disclosure (CD) to you and wait 3 business days to close the loan. During this time our closer and processor will work to get your file Clear to Close with the title company. Once we hit that, YOU ARE READY TO SIGN YOUR PAPERS AND CLOSE!