Home Loans: Loan Process
FAST & EASY PROCESS
For many people the mortgage process is complicated and confusing. At Preferred Plus Mortgage we strive to make the process fast and easy. If you have any questions, just ask us! We'll be happy to explain.
The following information provides a brief overview of the loan process.
APPLY FOR A MORTGAGE
You've decided to apply for a mortgage! At this stage a representative will gather information about you to find out what your objectives are and how we can help.
LOAN PROCESSING
After discussing your objectives and coming to agreement on the loan you want, your mortgage consultant will submit the information to the processor. Our in-house processing reviews the information for accuracy, collects required paperwork from you and other related parties, and submits your loan for approval. The amount of time a file is in processing depends on how quickly the requested information is received.
APPROVAL
At this stage your loan has been officially submitted, with all requested documentation and it's approved!! From here, we may be ready to close your loan! In some cases, additional documentation may be required.
CLOSING
We're ready for you to sign the paperwork on your new mortgage!! Typically, your closing will take place at the title company or our office. However, we are flexible and will be happy to accommodate you. Let us know a date, time and place convenient for you and we'll make it happen.
POST CLOSING
After your closing, your new mortgage paperwork is sent for recording at the county. From here, we'll continue to monitor mortgage rates and programs to make sure that you're updated when new opportunities arise.
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