Q: How do I start the mortgage process?
A- You can call us, stop in, or visit our "Apply Now" page on our website. We will start with questions to pull your credit and get you credit approved first. Then move to income, employment and such to get application finished and sent to the lender for the final approval.
Q: What documentation is required?
A- This may vary, however, common items are: driver's license, bank statements, pay-stubs, W-2's, employment verifications, Asset statements, purchase contract, gift letter for down payment, copy of earnest money deposit check.
Q: What is the difference between Pre-Qualification and Pre-Approval?
A- A pre-qualification is an estimate of how much a buyer can borrow. A pre-approval is a written commitment for a buyer from a lender. A pre-approval will need documents such as W-2, pay-stubs, and bank statements.
Q: What is a bank appraisal?
A- An unbiased professional opinion of a home value
Q: How long does it take to get a mortgage?
A- As long as the buyer is quick to get needed documents back to the lender when requested the average time from application submission is 20-45 days