The Bly Team's Real Estate Blog: February 2014

The Mortgage Loan Process | Premier Nationwide Lending | The Bly Team

The Mortgage Loan Process | Premier Nationwide Lending | The Bly Team

 

The Mortgage Loan Process

 

Paperwork - The Items needed to initiate your loan application: 

  • Drivers License(s)
  • 2 months recent bank statements (all pages, checking & savings)
  • 1 month pay stubs (most recent) from current job
  • 2013 W2's and tax returns (all pages)
  • 2012 W2's and tax returns (all pages)
  • 2011 W2's and tax returns (all pages)
  • 401k statement (all pages) from recent quarter
  • Divorce decree (if applicable)

From Start to Finish:

  1. Loan Application: A loan officer pulls your credit reports & verifies income + asset documentationThe Mortgage Loan Process | Premier Nationwide Lending | The Bly Team
  2. Pre-Approval: After the loan officer has verified your information, a letter is given to you saying your loan will be approved. Give the letter to your realtor.
  3. Find a Home
  4. Execute a contract & set up property inspections
  5. Shop for insurance
  6. Sign loan documents with loan officer
  7. Submit file to Processing: The Processor orders a title, appraisal, employment verification, etc.
  8. After appraisal & Title are received, file is submitted to Underwriting
  9. Underwriting Approval 
  10. Submit final conditions to underwriter for 'clear to close': This could be updated bank statements, cleared earnest & option fee checks, etc., and/or letters of explanation, etc.
  11. After final conditions are signed off, closing can be scheduled
  12. Closing Day: Bring a cashiers check made out to the title company for the amont owed.
  13. Funding Review: After signed documents are reviewed by the lender, they issue a funding number - and you get...
  14. Keys to your new home!

"We're here to guide you through the purchase of your new home."

The Mortgage Loan Process | Premier Nationwide Lending | The Bly Team

Thanks for all the wonderful information from - Premier Nationwide Lending at 281-333-3153.

If you have any questions regarding any of the League City Neighborhoods, or would like to schedule a tour of any real estate, residential or commercial in the Bay Area, please do not hesitate to call The Bly Team : 281-823-5775.

Deborah Bly Selling homes in League City TX

Deb's PictureRE/MAX Space Center

217 East Main Street
 League City, TX 77573

 Office 832-932-5435

 Cell 281-782-5313

 Deb@AgentBly.com

  www.AgentBly.com

    

Comment balloon 1 commentDeborah Bly • February 19 2014 12:54PM
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