The Application Process

• Contact is made with a Loan Consultant.
• All pertinent loan application information is disclosed to the loan consultant and important questions are addressed so the loan consultant can design the proper loan scenario for you.
• A credit report is pulled.
• An application is signed.
• Disclosures are signed.
• Explanation letters are written to explain specific situations that affect your financial ability to repay a mortgage loan.
• Supporting documentation is presented by you to the mortgage company to validate the information provided for the loan application
• An underwriting pre-approval is performed by an automated underwriting service or a manual underwriter.
• A commitment fee, application fee, or good faith deposit is paid by the homebuyer to the mortgage company.
• A pre-approval letter with conditions is presented to you. House hunting begins