After you have decided on the home you want to buy, you will make an offer-to-purchase to the seller through your sales associate. Once the seller and you agree on the price by signing the offer-to-purchase, you can then start on your loan application. To expedite the loan process, you may ask your Loan Officer to be pre-qualified for your financing.
 

Steps to Loan Approval:

1. Meet with your Loan Officer and provide him or her with the documents listed on the "Mortgage Application Checklist." A Residential Mortgage Application will be completed and you will receive disclosures regarding your application.
    
2. A credit report will be ordered and an analysis of your credit history and financial information will be completed. An appraisal will be ordered to verify the value of the property. If any additional documents are required to complete your application, your Loan Officer will inform you.
    
3. Upon receipt of the appraisal and any additional information requested, your application will be sent for review by a mortgage loan underwriter.
    
4. The underwriter will approve your application and indicate requirements which must be met prior to loan closing.
    
5. Once a date and time are agreed on by all parties, closing will be scheduled. The seller's attorney will supply a title commitment to the lender so documents can be prepared for closing.
    
6. At closing, the closing agent will have you sign all the proper documents and will supply you with copies of all signed forms. Approximate time for closing is one hour.
    
7. The time from application to approval is two to five weeks.

If you have any questions or would like more information on our mortgage loan programs, please see a Loan Officer or call us at 773.761.4300.