The first step... GET PRE-QUALIFIED

We recommend that you pick up your telephone and call us! We will discuss your situation and needs over the phone. At that point, we can pre-qualify you for your loan, in most cases, it will only take about 10 minutes!

The things we discuss are:
a) Value of the property, (including property taxes, insurances, maintenance).
b) Loan to Value, how much you want from us and how much you plan to contribute to the transaction.
c) Credit, the amount and quality of credit you have in place.
d) Income, the amount and durability of your income.

The second step... GET PRE-APPROVED

One of the most powerful tools you can use is to be pre-approved for a mortgage loan. That's because it takes the question of whether you can get financing out of the seller's mind. Indeed, a contract offer from a pre-approved buyer is like a cash sale to the seller. This is done over the phone, in person, or by mail.

The third step... DESKTOP UNDERWRITING

After the application is completed, we run a tri-merge credit report (all three repositories; Equifax, Experian, and Trans Union) and process the application through the Federal National Mortgage Associations on-line approval process. We will give you a written approval, and any details you need to be aware of will be simplified so you may shop for a house in confidence, and with the Power of being Pre-Approved!

The fourth step... LOAN SUBMISSION

At this point we would submit the loan application, pay stubs, bank statements and any other documents that the FNMA Desktop Underwriting approval requires to the underwriter, who verifies that what was discussed on the application is in fact real... It is possible that by this time you would have chosen a home and we would order the appraisal and start the title process through the title agent of your choice.

The fifth step... FINAL APPROVAL

The property appraisal, contract of sale, and any follow up documents or verifications required would be submitted to the underwriter for final approval. Usually within 2 days from that point your approval will be final, and your loan will go to the closing department so documents can be prepared for the closing on your home! At this point you tell us which insurance agent you will use for the hazard, windstorm and flood insurance on your home.

The sixth step... CLOSING

As the documents are being prepared for closing, you will receive a call to coordinate the closing with all parties involved in the transaction and schedule the time and place of the closing of your new home. The closing will most likely take place in the office of the "closing agent". The Closing Agent will provide a HUD-1 settlement statement showing all disbursements being made in conjunction with your transaction the day before the closing. You will need to have a Cashier's Check for the balance of the down payment and closing costs, and the Closing Agent will tell you how much and to whom the check will be written.

CONGRATULATIONS! THAT'S IT!

Our staff is here to help you all the way! Your questions are important to us, so please ask them. We look forward to helping you make you home buying experience a wonderful one, so don't wait, apply today!