9 steps of the Mortgage Process

9 Steps of the Mortgage Process

Step #1: Initial Consultation (the first time we talk or meet to get an overview to what your financial needs are).

Step #2: Opening of File (This is when the application is taken, choices are given for what mortgage product is best for your situation and then the package is sent out to you by FedEx or Email to be signed, dated and initialed)

Step #3: Our Receiving of Your Signed Docs (This is the time when everything that was taken on the original application is verified for accuracy and any discrepancies are brought to your attention).

Step #4: Loan Submission (This is when your loan is submitted to an underwriter for approval).

Step #5: Loan Approval (This is when your loan has been approved and any conditions that need to be met will be brought to your attention so we can get them cleared for closing).

Step #6: Signing Loan (This is the point where either you come to our office, a Title Companies office or even your home to complete signing for your loan).

Step #7: Funding (This is when the loan is being closed and if it is a refinance for you to receive your money or if it is a purchase, this is when you receive your keys to your new home).

Step #8: Recording (This is when your home is recorded at the town registry of deeds for ownership).

Step #9: Celebration (This is the moment when you can sit back and enjoy your enjoy your new home).