A complete set of application forms will be prepared inserting your personal information and transaction numbers. To expedite things as quickly as possible the application forms will be sent to you via email. The email will contain papers for you to sign and a list of items we’ll need to verify the information you provided about your finances during the on-line application. Typically this includes documents relating to your income and asset accounts like last years W-2 form, recent paycheck stub, and bank statement.
If you prefer regular mail over email we can use a one day delivery service to get your application forms to you. We’ll even include a priority mail envelope to make it as easy as possible for you to return the papers.
There is no loan application fee but you will be paying for your property appraisal using a credit card or even a bank debit card. We accept Visa, Mastercard, Discover or American Express.
We’ll order the appraisal from a licensed appraiser who is familiar with home values in your area. Depending on your finances and the loan amount requested, different types of appraisals are used. Sometimes the appraiser will need to view the home, sometimes they are able to do their evaluation from the street.
Title insurance will be necessary, if you are purchasing a home we’ll work with the Real Estate Broker or seller to insure the title work is ordered as soon as possible. If you are refinancing we’ll take care of ordering the title work for you. We’ll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents.
Your assigned Loan Advisor will keep you informed every step of the way via telephone or e-mail.