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PROCESSING YOUR LOAN

This outline below describes, in general terms, the steps typically required to process your Mortgage Loan Application. Every loan transaction is slightly different, so the steps will vary from one transaction to another.

After you select the home you want to buy, you will make an Offer-to-Purchase through your Realtor. Once you and the seller have agreed on the Price and Terms of the sale, and have signed the

Sale Agreement and paid an Earnest Money Deposit, you are ready to file your Application.

1. A knowledgeable loan officer will interview you. Please be prepared to provide the information on the Mortgage Information Checklist, which can be accessed from the mortgage loan main page.

2. A credit report will be ordered for all borrowers.

3. An appraisal will be ordered to verify the value of the property.

4. We verify in writing your job and income data, assets, and debts.

5. We do final underwriting as soon as all the required information is compiled.

6. We notify you and your realtor as soon as a final decision is made.

7. A title examination is ordered after we notify you of the approval.

8. At a mutually agreeable date and time, a closing is scheduled.

9. You will need to bring a certified or cashiers check for your closing costs and down payment.

10. You will need to bring a paid receipt for your homeowners insurance to the closing. We will need to know the annual premium amount about a week before closing.

11. Typically, attorney will conduct the closing. This is the time that title to the real estate passes to you. Promissory notes and security instruments will be signed at this time. Closing will usually take about an hour.

Click the choices below to Learn More + Prepare to Apply for a Mortgage Loan:

• Choosing a Lender – Questions to ask
• Loan Processing Procedures – Steps in the loan application procedure
• Information Checklist –Information and documents you will need to apply for a Loan
• Mortgage Prequalification Information Sheet - Form to fill out and bring to the bank when applying for a mortgage loan. Questions asked on the form cover information you will need to provide. (To access this form you will first be asked to read the Bank’s Privacy Policy and click to continue.)