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

Loan Officer collects all necessary documentation for initial approval of loan.

Any documents still needed from the checklist to be returned to your loan officer within 48 hours.

Underwriting

Your loan processor will contact you and gather any outstanding documentation necessary to obtain your approval. Your loan application is then sent to our Underwriting Department for consideration of an initial loan approval.

Initial approval must be obtained to start construction of home. Once your loan is approved, your processor will share your loan approval letter and help you begin the process of clearing all conditions of the approval.

Pre-drywall Meeting

Contact Loan Officer to discuss locking interest rate.

Contact homeowner's insurance agency to obtain a copy of the new policy.

Closing processor will request new bank statements, paystubs, and any remaining documents that are still needed for final approval of loan.

Month of Settlement

We will work with you to collect final documentation, including a final paystub and bank statement dated within 30 days of your settlement date.

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

Closing on your Mortgage

You typically need to come to settlement with a certified check for your closing costs and remaining balance of your down payment, if any.

The certified check should be made out to your settlement services provider and you will need to bring a Photo ID as well.

We can accept certified checks up $20,000. If your amount is larger, a wire transfer will be required.

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

Joseph D., Eastern Shore, MD