Start the Mortgage Loan Process
There are five basic steps to getting a traditional home loan. We make it our goal to simplify the process for you, giving you clearly defined steps and doing most of the work for you.
Step 1. Initial Application. Our online form makes it easy. Fill out some basic information, and we’ll respond quickly with some options for you to consider. >> Get Started Here.
Step 2: Find out how much you can borrow. When you start looking for a house, you want to know how much you can qualify to borrow—and more importantly, how much you’d feel comfortable borrowing. We’ll help you decide that with a simple pre-approval process and we’ll provide you with a pre-approval letter that you can submit with your offer when you find the right house. Several factors determine how much you can borrow:
- Credit score. With your permission we will order a credit report and give you the results, advising you on your score and what it means for your loan options.
- Debt-to-income ratios. The ratio of monthly debt obligations (car payments, child support, etc.) to your gross income. The lower your debt-to-income ratio, the more options you’ll have for a loan.
- Income/work history. Workers who report their income on a W2 and who have established history with a company often have the best options for a loan. Lenders often require more documentation from self-employed borrowers. Whatever your situation, we’ll guide you through the requirements.
- Assets. Banks want to know that a borrower has enough cash for the down payment and closing costs.
Step 3. Pick the loan that’s right for you. This is where our mortgage team can help on the front end—finding the loan that best suits your individual needs.
- Fixed rate loans offer the same interest rate and payment amount for the life of the loan.
- Adjustable rate loans typically feature a rate that’s constant for a period of time (5 years, 7 years, for example), but that can change thereafter, usually within certain limits. These loans often make the most sense for homeowners who want a low payment and who plan on moving within the time period of the fixed loan rate.
Step 4. Loan processing. Once you’ve chosen a loan and filled out an application, we’ll begin the approval process. This means we’ll need some paperwork from you related to income, credit, assets, appraisal of your home, title and insurance policies, and more. Sounds overwhelming, but we pride ourselves on making it straightforward and as simple as possible. We’ll give you a clear list of everything needed, and we’ll help you navigate any complexities.
Step 5. Closing. After approval of your loan, we’ll work with your realtor and a closing attorney or title company to sign the final documents. With this step, as with all the others, we’re here to answer your questions and guide you. It’s what we do to achieve your end goal—a new home that fits your budget and your lifestyle.