Buying a Home - The Mortgage Process

Once you have found the perfect home and are ready to submit your mortgage application, our team of Loan Representatives are here to help. Understanding the Mortgage Process from beginning (loan application) to end (loan closing) will help alleviate some of the stress that naturally comes with this momentous occasion! We are looking forward to collaborating with you to ensure a smooth closing for you loan. 

What is the loan process?

• Loan Application
  As a local community bank, we strive to make things easy for you. You may choose to complete your loan application online, or you may meet with one of our Loan Representative who will provide you with personalized service and answers to questions you may have along the way. Our team is available to discuss the different financing options that are available to you.
• Appraisal and Credit Report
  We will order an appraisal to verify the value of the property you are purchasing. A credit report is ordered for each borrower to determine creditworthiness.
• Application Process
  We will complete your application with additional information provided by you. This process includes verifying your employment, income, assets, debts, credit and any additional financial information required to make the loan decision
• Underwriting and Approval
  After final review of your application is completed, we make our decision and will communicate it to you as soon as possible. If your application is approved, you will receive a written commitment letter detailing the terms of the mortgage approval. Any additional information or documents required will be listed in your commitment letter.
• Loan Closing Scheduled
  Our mortgage team will work with one of our professional local law firms to schedule the loan closing. We will work with you to ensure the closing date, time and location is convenient for you. All final loan documents are signed at the closing.
• Required Items to Bring to Loan Closing
  There will be certain documentation that you may need to bring with you to the closing and our mortgage team will provide you with all the details based on your loan type.
• Loan Closing or “Settlement”
  The final step is to sign all the final documentation at closing, obtain the keys to your dream home and begin the next exciting chapter in your life!

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