The Purchase Process

Below is a brief overview of the purchase process. Each client's situation is different, so the following is only a guide:

  1. Complete the mortgage loan application, at which point the loan officer will run your credit report and can provide you with a Pre-Qualification Letter
  2. An executed purchase contract is completed
  3. You decide on what interest rate you want to lock.
  4. Complete the preliminary loan disclosures and provide your loan officer with the required documents:
  5. Most recent 30 days paystubs for all borrowers
  6. Last 2 years W-2s for all borrowers
  7. Last 2 years signed Federal Tax Returns (all schedules) for all borrowers
  8. Most recent 2 months bank statements
  9. Most recent quarterly retirement account statement
  10. Copies of drivers licenses for all borrowers
  11. Your loan officer submits your file to the lender for underwriting
  12. Appraisal and title work are ordered
  13. Lender issues a conditional loan approval
  14. Loan officer requests any necessary documentation from the borrowers
  15. Lender issues a clear to close
  16. You close your purchase