Home Loan Application Process
Determining Home Loan Eligibility
The first step in the mortgage lending process is for me to assist you in your home loan eligibility request by trying to determine the loan amount and monthly payment you are looking for. I will also need you to provide information to evaluate which loan program would work best for you. I will work very hard to make your experience with a home loan eligibility request as simple as possible.
The Home Loan Application Process (in a Nutshell)
Step 1: Start The Conversation
You reach out to me via email, text, or phone, then we decide whether we can meet face-to-face or continue the conversation electronically. We will discuss a custom strategy and approach to enable me to help guide you from start to finish to obtain a pre-approval for a mortgage loan. We will go over the short-term and long-term plan that is the best fit for you.
Step 2: Custom Loan Strategies
We begin executing our plan once we agree on a custom loan strategy. I need your assistance and time to upload any necessary income, assets, creditworthiness, and identity documents to a secure portal. Then, I will combine your information and these documents into a formal application that goes to underwriters for pre-approval.
Step 3: Preapproval
We will receive a formal decision regarding underwriting approval. At this time, I may need additional documents to finalize your pre-approval based on what the underwriters ask for. However, I will work with you to ensure everything is submitted and pre-approval goes smoothly.
Step 4: The Home Search
As you are looking for and submitting contracts, I will provide updated estimated fee and rate worksheets to assist in the payment comparison analysis. I am constantly available to answer your questions about your home loan options so you can find the home you’ve been dreaming of and stay within your budget.
Step 5: Final Approval
We will need a few more puzzle pieces to submit your final application for a loan. In addition to any updated documentation regarding your income or assets, we order a home appraisal, title work, insurance information, and final verification. The underwriter will review everything, and I will receive a clear-to-close loan approval.
Step 6: Closing
The closing department sends figures and documents to the title company, and they play ping-pong with the figures. A closing disclosure will be sent to you. I will go over the preliminary numbers with you. When the final numbers are balanced, and you and your realtor agree, a final closing disclosure will also be sent to you. You can order a wire or provide a cashier’s check to the title company for the final funds due at closing. I will go over this with you as well.
Get Started With Rob’s Mortgage Loans
Unlike other Denver mortgage lenders, who ask you to fill out an extensive form online or complete an application yourself, I’ll help you start the loan pre-approval process. We can meet in person or in a conversation over the phone to discuss the beginning pieces of how your financial puzzle is “fitting” together.