Main Content

Preparing to Buy

Before you start shopping for your property, you will need to go through the mortgage loan application process so that you know how much you can afford.

A Brief Guide To Obtaining A Loan To Purchase Your Home

Step 1: Application

  • Complete a loan application in person, by phone or via the internet.
  • Application reviewed to match you with desired loan program.
  • Credit report ordered and reviewed.
  • Pre-Qualification Letter may be issued at this time.

Step 2: Initial Underwriting

  • File forwarded to lender for initial underwriting.
  • Underwriter determines what is needed to support your application (e.g. bank statements, tax returns, appraisal).
  • Conditional Loan Approval issued at this time.

Step 3: Processing

  • Loan officer and processor gather information requested by underwriter.
  • Preliminary title report requested and home appraisal and inspection may be completed.
  • Loan officer may request additional information from you at this time.

Step 4: Final Underwriting

  • Lender evaluates your file again with all of the supporting information.
  • Any additional required information is requested.
  • Final Approval issued and loan documents drawn.

Step 5: Funding

  • Execute closing documents at title company office.
  • Deed of Trust recorded at the county recorder’s office.
  • Lender releases funds for wire transfer.
  • Funds disbursed to the proper recipients.

Other Helpful Resources