Buying a home can be EASY!

The Loan Process

1.

Get
Pre-Approved

This is the time to get in the know. A pre-approval will give you an advantage when you find your perfect home. We can tell you what you need to get pre-approved, so you know the exact loan amount you qualify for, what your monthly payment will look like, and how much taxes and insurance will be. With a pre-approval, the loan process will be smoother and your offer will be stronger.

2.

Loan Application

Your application will provide a complete picture to loan investors of your assets, debts and what you are buying. It will take into account documents such as pay stubs, proof of income, tax returns, employment history, and information on all debts, assets, and sources for down payments. Don’t worry, we will request these documents as applicable for your loan application so that you can be fully prepared.

3.

Select Your
Loan Program

Fixed rate? Adjustable? FHA? There are multiple loan options that may fit your unique needs, and we can help you choose. Are you looking for the consistent rates and payments that a fixed rate loan can provide? Do you want the short-term benefits of lower rates that an adjustable rate loan can bring? Our extensive portfolio of loan options means you have more options available to get just what you need.

4.

Processing and
Underwriting

Your loan has specific investor guidelines that must be met, and an underwriter will review your documents to be sure that you meet them. While an underwriter reviews your file, an appraisal will be ordered on the home. Additional information may be requested, so don’t panic if you have to turn in more documents. That’s just the underwriter working hard to get your final approval.

5.

Loan
Approval

Before your loan is approved, you will receive pre-approval and a list of closing conditions that need to be met. These conditions can include verification that your employer is current and proof that homeowner’s insurance has been obtained. Once closing conditions have been satisfied, the underwriter issues a clear to close. Congratulations, your loan has been approved!

6.

Close
the Loan

With an approved loan, you are on the home-stretch towards closing. The lender will send closing documents to a title company that draws up paperwork and arranges for signing of documents. Once the documents have been signed and funding conditions have been met, the title is recorded and the process is complete. You are a proud owner of your new home, and the keys are yours!

What Can I Afford?

Try our Mortgage Calculators to compare mortgage rates, loan programs, terms, or to see how much home you can afford. These tools are easy to use and will give you answers to many commonly asked questions.

Tips for a Successful Closing

  • It is extremely important that you do not make any major life changes immediately before or during the loan process.
  • Don’t quit your job or change jobs.
  • Don’t make any large purchases like a new car.
  • Don’t co-sign on any loans for someone else.
  • Don’t spend money that you have set aside for your down payment or closing costs.
  • Don’t make any changes to your credit like opening new cards or even closing accounts without guidance from a professional.
  • Keep Calm! The loan process can seem overwhelming, especially if it is your first time.

We will help you understand what is needed and get you to the finish line on time.

© 2018 US Mortgage Corporation

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This notice is provided to you pursuant to the Privacy of Consumer Financial Information Act and the Federal Trade Commission’s implementing regulation thereunder, 16CFR Part 313.
1. Collection Sources:

2. We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.
3. We restrict access to nonpublic personal information about you to those employees who need to know that information to provide the requested loan origination services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information

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