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The Process...

I know you've heard all the horror stories, but the Mortgage Process should typically be very simple. Generally, what complicates it is the inexperience or inadequacies of the Lender.  If you are asked all of the right questions upfront and supply all of the requested information/documentation, the process is a breeze.  Here is the typical mortgage process whether you are involved in an online mortgage application or meeting directly with a Lender's Representative.

1. Gather information/documentation you may need for the Mortgage Application. (Paystubs, Tax Returns and/or W2s, Banking Statements, etc.)

2. Meet with Lender Representative or fill out Online Application.

3. Supply documentation you have gathered and locate any additional information/documentation requested.

4. You will be contacted by the Lender with either an approval as well as any conditions that apply to your application, a request for additional information/documentation to complete your approval or a denial along with the reasons for the denial.   *****BE SURE TO GET ALL TERMS IN WRITING!!!!!!!!*****

5. After this the appraisal of the property is completed if it hasn't been done already.

6. The Lender reviews the property appraisal as well as any information/documentation supplied by you, your Realtor, the title company or escrow agent and anyone else involved in the transaction.

7. All conditions are cleared and final settlement is confirmed.

8. You go to settlement and become a proud homeowner!!!                               
   (or as one of my customers said at settlement, ' a proud loanowner!')

What if it doesn't work this way???  That's where the level of experience of the Lender's Representative comes into play.  If the Representative is a seasoned Loan Officer you should not have many problems or issues to deal with, but if something comes up, then the Rep's experience level will come into play.  If you're dealing with an inexperienced Representative or a clerk on the other end of a computer terminal and cannot seem to get anywhere with the issue or problem, don't waste time... ask to speak with their supervisor.  That should either get them moving or get you some help.  Still not getting anywhere???   Contact me and I'll either see if I can make any recommendations to help with your situation or perhaps I can get your application assigned to me, if you like, and help you get the job done right!!