How does the mortgage process work?
The average mortgage process works as follows: You complete the loan application with the help of your loan officer from American Patriot Mortgage and he or she will get you pre-qualified (this determines how much of a loan you can afford). You then need to compile all required documentation on all your finances, and write any necessary letters that might be needed. Additional documentation is requested by the mortgage company, such as verifications of employment and deposit, appraisal, title, credit reports, and anything else required depending on the details of your transaction. Once American Patriot Mortgage receives all required information, it is put together in a submission package and sent to your lending company’s underwriting department. The underwriter reviews the loan and depending on the strength of the loan and the submission package, either approves your loan or denies it. If it is approved any conditions from the underwriter are cleared and the closing documents are orde
The average mortgage process works as follows: You complete the loan application, compile all required documentation on all your finances, and write any necessary letters that might be needed. Additional documentation is requested by the mortgage company, such as verifications of employment and deposit, appraisal, title, credit reports, and anything else required depending on the details of your transaction. Once all required information is received, it is put together in a submission package and sent to your lending company’s underwriting department. The underwriter reviews the loan and depending on the strength of the loan and the submission package, either approves your loan or denies it. If it is approved any conditions from the underwriter are cleared and the closing documents are ordered. Credit denial is rare at this stage, as the strength of your mortgage package is determined during pre-qualification. That is why it is imperative that you not change your employment, credit or
Thank you for using our 425.com mortgage website. You have requested information on “How does the Mortgage process work?” The mortgage process works basically as follows: You speak to a loan officer or mortgage broker and get pre-qualified (figure out how much you can afford). Fill out the loan application with the help of your loan representative, put together documentation on all your finances, and write any necessary letters that might be needed. Additional documentation is requested by the mortgage company such as verifications of employment and deposit, appraisal, title, credit reports, and anything else required depending on the details of your transaction. When all of the information is collected it is put together in a submission package and sent to underwriting. The underwriter reviews the loan and depending on the strength of the loan and the packaging either approves it or denies it. If it is approved any conditions from the underwriter are cleared and the closing documents
