Our 5-Step Mortgage Process.

 

We make it simple.

 

1. Loan Pre-Qualification

An online pre-qualification gives us a basic overview of your income, debts and assets. This allows us to get an idea of which home loan is right for you. We are more than happy to do an in-person pre-qualification if you prefer.

What you need to do: Get pre-qualified


2. Loan Application

For your initial meeting, we suggest you bring the items listed below. Providing this information can speed up the mortgage process, as it allows your loan originator to retrieve your credit information, evaluate your application, and qualify you for a loan program that suits your financial needs.

What you need to do: Give us a call at 800-580-6152 and bring the items listed here to your initial meeting:

  • Fully executed purchase agreement, including all addenda.
  • Your most recent 30-day pay stub(s), showing year-to-date earnings.
  • Past two months’ statements for savings, checking and investment accounts (all pages).
  • Prior two years’ W-2 forms.
  • Photo ID.

 

3. Loan Processing

Once you let us know that you intend to proceed, your Howard Hanna Mortgage team will begin to process your loan.  We will verify the information provided in your application, as well as order an appraisal of the property you are purchasing. Throughout the process, our team will update you on the status of your home loan.

What you need to do: Nothing, unless additional information is required. If it is, we will contact you.

 

4. Loan Approval

Our underwriters will thoroughly review your application, focusing on the following key factors: your employment history and stability, income as compared to your outstanding debts, credit history, available funds for down payment and closing costs, the appraisal of your property. We may identify additional conditions that must be satisfied before final approval can be issued. When all conditions are cleared, your loan is approved. Written notification of your approval will be sent to you.

What you need to do: Nothing, unless additional conditions need to be met. If they do, we will review with you and help resolve them.

 

5. Loan Closing, with Barristers Title & Escrow

Barristers, our closing company, will make your loan closing easier. Once you receive the final home loan approval, your Howard Hanna Mortgage team will prepare your closing documents and forward them to Barristers. A settlement coordinator will contact you to schedule a signing appointment. Once all required documents are signed and recorded, your home purchase is complete! Congratulations and welcome home!

What you need to do: All borrowers and buyers must be present at the signing appointment, sign all required documents, and provide certified funds.

 

Still have questions about our process? Find a local loan originator today.