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:
- Loan Application: A loan officer pulls your credit reports & verifies income + asset documentation
- 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.
- Find a Home
- Execute a contract & set up property inspections
- Shop for insurance
- Sign loan documents with loan officer
- Submit file to Processing: The Processor orders a title, appraisal, employment verification, etc.
- After appraisal & Title are received, file is submitted to Underwriting
- Underwriting Approval
- 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.
- After final conditions are signed off, closing can be scheduled
- Closing Day: Bring a cashiers check made out to the title company for the amont owed.
- Funding Review: After signed documents are reviewed by the lender, they issue a funding number - and you get...
- Keys to your new home!
"We're here to guide you through the purchase of your new home."
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
RE/MAX Space Center
217 East Main Street
League City, TX 77573