Process Mortgage

Client Testimonial

When it came to choosing a builder for our new home, there were many decisions to factor. My husband and I spent a lot of time researching the differences between all the different companies that ...

K & S Patel
Stewart Ridge, Plainfield

The Mortgage Process

Pre-Qualification

This step gives you the early notice of being qualified for a loan and allows you to shop with confidence in what you are able to purchase. You should speak with one of our preferred lenders in order to receive a pre-qualification.


1
Applying For Loan

You will speak with one of our preferred lenders to apply for a loan. They will gather all necessary information from you and your mortgage application will be complete.


2
Submitting Paperwork

You will be required to submit some paperwork in order to move the mortgage process along. You will submit additional paperwork with the application that may include 2 years of W2’s, 2 months of bank statements, and 1 month of pay stubs.


3
Appraising The Home

Most mortgage lenders require that an appraisal is done on the home in order to get financing. While the home is under construction an appraiser will come out to complete their appraisal.


4
Obtain Home Insurance

Most lenders require home insurance that covers fire and hazards. If your new home is located within a flood zone, you will also be required to obtain flood insurance. If you do not have an insurance agent we can recommend one to
you.


5
Loan Processing

With all your information and documentation, your loan will be sent to the processing department for review and approval. The processor will review all information and see if any additional documentation is needed.


6
Underwriting

An underwriter will look over your loan application from start to finish. Once finished, they will see if any additional information is required and make a decision to approve your loan.