You've come to the right place. When you entrust us with your financing, we own the experience, from initial contact to the moment you're handed the keys. Our success is measured not by the size or number of loans we close, but rather by your satisfaction with how we handled the process and your willingness to recommend us to others.
Here we go!
Step 1: The Application
Ready to start shopping and want to know how much home you can afford? The first step is loan prequalification. Send us your information by completing the online application or contact us to set up an appointment.
TIP: Unless you already have a purchase and sales agreement contract, there’s no need to enter a property address on your application – this information can be added later. This prevents you from submitting multiple applications with new addresses as you search for ‘the one’.
The loan officer assigned to your application will contact you within 48-72 hours and serve as your point person, working with you every step of the way until you’re handed the keys at closing.
Your loan officer reviews all the associated fees of your home ownership journey (appraisal and title search, attorneys, closing costs, taxes, etc.) to find a financially comfortable range for you. When a comfortable target amount is determined, we’ll provide written verification via email within 48-72 hours that you’re financially ready to start shopping.
When you find the home you want, your assigned loan officer will verify the information on your application, lock your rate, issue disclosures, and collect supporting documentation.
Step 2: Processing
The appraisal and title search are ordered by the credit union.
The appraiser will reach out to you or your realtor to set up an inspection of the house.
The title search includes an attorney of your choice. If you don’t have a selected attorney, we can assign you one. The attorney will send you an introductory email or phone call, as you will be working with them later during the closing.
Your loan officer will notify you when the appraisal and title work are complete – typically within 45 to 60 days. You will receive a copy of the appraisal. Your documentation file is then prepared and submitted for underwriting.
Step 3: Underwriting
More paperwork. Hang in there – the finish line is near! You’ll be asked for verification of income, assets, and proof of insurance. These documents will be added to your file. You’ll then receive initial disclosures to sign and return. Mortgages can be unique, so depending on your situation, additional documentation might be required. Your loan officer will keep you in the loop and let you know if anything else is needed to proceed to your closing.
Step 4: Closing
Your loan officer will contact you once your loan is approved, and the closing is scheduled. They will also provide information about what you may need to prepare or bring to the closing, such as arranging a wire transfer or obtaining a bank check for the amount due.
The buyers, sellers, realtors, and attorneys sit down together to sign a few more forms, and at the end you’ll receive the keys to your new home! After closing documents are signed, funds are disbursed and the entire homebuying process is complete.
Congratulations and welcome home!
It isn’t unusual to encounter obstacles along the way. No need to worry! We're here to help you move past them as easily as possible. Here are common ones:
If your loan request is declined, it may be due to any number of things including not enough income, too much debt, or a weak credit history. As important as it is for you to own a home, it’s even more important to us that you can afford to keep it and maintain it. We avoid placing people into situations with a high probability of causing them financial stress. If your application is declined, your Mortgage Loan Officer will discuss with you the reason and provide suggestions about how to increase the likelihood your application can be approved in the future.
Property Appraisal Issues
A loan request cannot exceed the appraised value of the property being financed. In some cases where this occurs, it may warrant presenting a counteroffer to the seller. Your Mortgage Loan Officer can provide you with suggestions on how to proceed.