The Mortgage Process

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In the Documentation Stage, you play a crucial role as the quarterback of the team. We'll need several essential documents from you, including:

1. W2’s – From the last 2 years
2. 2 Most Recent Paystubs
3. 2 Most Recent Bank Statements – All pages
4. Copy of your driver's license

It's vital not to alter your financial situation during this stage, which means avoiding 

• major purchases (such as furniture for your new home)
• applying for new credit (like financing for a car)
• making changes in employment (please refrain from quitting your job)

In the Appraisal Stage, a licensed third-party appraiser assesses the value of the home you're purchasing to ensure it aligns with the offered price. The most common method involves comparing it to recently sold homes in your neighborhood over the last six months. However, the appraiser does not consider factors like the roof, appliances, air conditioning, plumbing, foundation, windows, and floors when determining the home's value.

To ensure a comprehensive understanding, we recommend clients also obtain a Home Inspection. If you need a recommendation for a reliable Home Inspector, please let us know – we're here to assist!

In the Underwriting Stage, our Loan Processor meticulously reviews the documentation you've provided before passing it to our Underwriting Department. The Underwriter plays a crucial role by:

• organizing your documents into a mortgage-ready file
• reconstructing your scenario to meet qualification requirements
• verifying the accuracy and authenticity of all information.

It's normal for Underwriters to request additional documentation, so please don't be alarmed. Instead, promptly accommodate these requests to facilitate a smooth process.

This marks an exciting phase in the process! In the Conditional Approval Stage, you receive the initial indication that your mortgage loan is on track for approval after the Underwriter's preliminary review. However, this approval is contingent upon meeting specific conditions requested by our company, which may include:

• additional documentation
• a letter of explanation
• an acceptable appraisal report.

Upon satisfying all required conditions, your file will be resubmitted to the underwriter for final approval.

You're nearing the finish line! In the Clear-To-Close Stage, the Underwriter thoroughly reviews all documentation to ensure all conditions are met. We'll then prepare the final documentation for your signature at closing and will reach out to schedule the closing date.

Celebration time! In the Closing Stage, you'll sign the final documentation, finalize your title documents, and officially get the keys to your new dream home! Easy, isn't it?