LEARN MORE ABOUT THE MORTGAGE PROCESS AND WHAT INFORMATION IS NEEDED
THE MORTGAGE PROCESS
Prequalification: If you are buying a home, we can meet with you and help you determine the price of home that is right for you. We will also issue you a letter for your realtor so they know you are prequalified for a loan and ready to buy. (This prequalification letter is contingent upon final processing and approval as outlined below). If refinancing your current loan, we can help you determine if refinancing makes sense or not.
Application: Once you have signed a purchase agreement, stop in and we will begin the process of obtaining the mortgage loan which starts with the Application. Or, if it makes sense to refinance your home, stop in and we will begin the process.
Processing: We will need information and documents that are used in determining your qualification for a loan. Some of this you will need to provide to us. We will tell you at application and thru processing what is needed.
Approval: We will review all of your information and documents to determine if you qualify for a loan.
Closing: This is when we sign all of the loan and mortgage documents and the process is complete. It is at this time you will have a new home purchased or a lower mortgage rate.