Your Loan Process

Road Map to Closing

The path to homeownership is an exciting journey that you will experience one step at a time. You can expect forward progress in the mortgage process at each one of these defined points in the process.

Steps

Loan Application

Begin the loan application process by applying online or by meeting with your loan officer. The loan officer will discuss financing options with you. Once you have made your loan program selection, the loan officer will tell you what information you will need to provide.

Underwriting

The loan officer will contact the borrower and gather any documentation necessary to submit the loan to underwriting.

Once underwriting reviews the loan, it may be necessary for the loan officer or loan processor to request additional information needed in order to secure an approval.

A loan approval must be obtained in order to start construction of the home. Once the loan is approved, the loan officer will provide the loan approval letter to the borrower and explain the conditions of the approval.

Month of Settlement

We will contact the borrower to obtain any outstanding documentation required within 30 days of the settlement date.

At least three days prior to your settlement date, the borrower will receive the Closing Disclosure showing the cash required to close.

Closing on your Mortgage

The branch office, homebuilder and settlement agent will coordinate scheduling the loan closing with the borrower. The settlement agent will provide the borrower instructions for wiring the funds required for closing.

The borrower will wire the funds required for closing to the settlement agent.

This was the easiest and most efficient process I have ever been through.

Joseph D., Eastern Shore, MD