The Loan Process

1 Prepare your financial documents.

You should start preparing your financial documents for us either prior to or quickly after you make application for a loan. The following is a list of financial documents that may be required. Depending on your individual credit and financial situation, we may require additional documentation.

If you are Purchasing a Home, provide the following:

Copy of Valid Photo ID and SSN Card
Copy of a FULL MONTH's worth of paystubs
Last 2 Years W-2's
All Pages (front & back copies) of your last 2 month's bank statements for all accounts
ALL Pages of your recent retirement account statements (if any) - IRA, 401K, 403b, etc.
Verification of any additional income (child support, alimony, SSI, disability, etc.)

If you are Refinancing your Home, provide the following:

Copy of Valid Photo ID and SSN Card
Copy of a FULL MONTH's worth of paystubs
Last 2 Years W-2's
All Pages (front & back copies) of your last 2 month's bank statements for all accounts
ALL Pages of your recent retirement account statements (if any) - IRA, 401K, 403b, etc.
Verification of any additional income (child support, alimony, SSI, disability, etc.)
A copy of your deed
Current loan provider
Last Years Property Tax assessment
If you are not a US citizen, provide a copy of your green card (both sides)
If you are not a permanent resident provide a copy of your H1 or L1 visa.

2 Get pre-approved to determine how much you can borrow.

Once you are qualified you will have a good idea of how much you can afford. A pre-qualification gives you a no obligation quick and easy idea of what you can borrow. It is a helpful and painless first step. Pre-approval verifies your income, credit and debts. This involves more time and expense but is very useful when making an offer on a property. Sellers will obviously consider an offer more seriously that is pre-approved over one that is of unknown backing.

3 Work with our loan officers to find the best mortgage for you.

Once you have determined the type of home you are looking to purchase (single family, condo, manufactured or modular home) your loan officer will help you find the mortgage that fits you best. There are a lot of factors to be considered. How long do you plan to keep the loan? Would a fixed or adjustable rate mortgage be best for you? How many points should you pay? What other costs are involved? When should you lock in your rate? Based on your needs and situation, your loan officer will show you which mortgage products work best for you. Once the appropriate loan program has been established for you and you have entered into a contract to purchase the property, an appraisal and title search will be requested. During the whole process, we are there for you to answer your questions with our years of experience.

4 Underwriting and closing your loan.

After the appraisal and title search has been received, your loan will be reviewed by one of our underwriters. Upon a satisfactory review, your loan will be scheduled to close.

At the closing itself, everyone involved in your transaction will be present (buyer, seller, closing agents and attorneys). You will sign the necessary legal documents, pay your closing costs and escrow items and receive your closing documents.

Now you receive your key, move in and celebrate!

Remember, you should never hesitate to ask questions. Ask what ever you need to so that you understand the entire process.