Even before you find the perfect home or decide on a home equity loan or mortgage refinance, our Mortgage Experts are here to help. The lending process starts with the loan application and concludes with loan closing.
1. Loan Application
You can meet with a Mortgage Expert or branch manager to complete your loan application, if you choose to not complete it online. Our branch managers and Mortgage Experts can provide you with personalized service and answers to questions you may have about the financing options available to you.
2. Appraisal and Credit Report
We will order an appraisal to verify the value of the property. A credit report is ordered to determine creditworthiness.
3. Application Process
We will complete your application with additional information provided by you. This process includes verifying your employment, income, assets, debts, credit and any additional financial information required to make the loan decision.
4. Underwriting and Approval
After final review of the application is completed, we make our decision and will notify you as soon as possible. If your application is approved, you will receive a commitment letter detailing the terms of the approval.
5. Loan Closing Scheduled
Your Mortgage Expert will work with you to schedule a closing date and time for you to sign the final loan documents.
6. Required Items to Bring to Loan Closing
You will have to provide certain documentation at closing, which your Mortgage Expert will advise you on, based on your loan type.
7. Loan Closing or "Settlement"
Our Mortgage Experts, along with your realtor (if a purchase), can provide you with details about this step.
8. It is now time to enjoy your new home, home equity loan or refinance!