|
 |
|
|
The Loan Process
Obtain Loan Approval
Once your loan application has been received we will start the loan approval process immediately. This involves verifying your:
| 1. |
Credit history |
| 2. |
Employment history |
| 3. |
Assets including your bank accounts, stocks, mutual fund and retirement accounts |
| 4. |
Property value
|
Based on your specific situation, additional documents or verifications may be required. To improve your chances of getting a loan approval:
| |
Fill out the loan application completely. |
| |
Respond promptly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date. |
| |
Do not make any major purchases. Do not buy a car, furniture or another house till your loan is closed. Anything that causes your debts to increase might have an adverse affect on your current application. |
| |
Do not move money into your bank accounts unless it can be traced. If you are receiving money from friends, family or other relatives, please contact us. |
| |
Do not go out of town around the closing date. If you do plan to be out of town when your loan is expected to close, you may sign a power of attorney, to authorize another individual to sign on your behalf. |
|
|
|
|
