WE HAVE A CHAT
We connect to talk about your credit and financing needs and manage your expectations. We’ll go over your available loan options and guide you in picking the program and interest rate that makes the most sense for you.
We prepare your application and gather as much as we can upfront. We’ll then inform you what additional documents are needed, including tax returns, pay stubs, bank statements, and employment history.
APPRAISAL AND UNDERWRITING
After we receive your paperwork, we’ll order an appraisal, title insurance, tax transcripts, verify employment, and gather everything needed for closing. One of our loan processors reviews your file to “pre-underwrite” your loan, then it’s submitted for underwriting.
CONDITIONAL APPROVAL AND LOAN COMMITMENT
This is the step when you can breathe a sigh of relief. Your loan has been approved, but it comes with conditions that must be met before it can close. You’ll receive your loan commitment subject to these conditions, which your loan officer will work with you to address and resolve.
PENDING DOCUMENTS SUBMITTED FOR CLOSING
We’ll gather your additional documents noted in the conditional approval, as well as the third-party paperwork we ordered on your behalf. We then submit it all to the underwriter for “clear to close” on your loan.
UNDERWRITER SIGN OFF
The underwriter reviews your loan, affirms that all conditions have been met, and signs off on approval. Now your loan is officially ready to close!
We’ll schedule your closing, gather all final paperwork, and confirm the total funds needed at closing. The last step is receiving the keys to your new home. Congratulations!
Mortgage City NMLS #2007168. All information contained herein is for informational purposes only and while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs, and underwriting policies subject to change without notice. This is not an offer to extend credit or commitment to lend. Although and subject to underwriting approval. Some products may not be available in all states and restrictions apply.