You Will Never Wonder What’s Happening With Your Loan.

One of our industry complaints is poor communication.  Every morning you will get an update on the progress of your home loan.  You’ll understand what the next step is and when it’s happening.

Step One: Initial Appointment. Set up an appointment and then apply With Chris.   During this process, I will get all the information I need to understand your goals, understand what it is that you’re trying to accomplish.  At the time of application, please have:

You can scan this and email it to me, or you can fax me at 614-635-3664.

• W2’s for last 2 years, 3 years if possible.
• Child Support printout from CSEA (if paying or receiving)
• Last 3 Years Tax Returns (If Itemizing),
  • If Self Employed, we need personal and business tax returns for 3 years, and an explanation if there is declining income.
  • If self employed we will need assets owned by the business if considering them.
• Retirement Award Letter (if applicable).  WE can help you get this if you don’t have a copy.
• Paystubs for the last 45 Days.
• All asset statements, including:
  • Bank Statements (Checking, Savings, CD’s)
  • IRA statements
  • 401k statements
  • Annuities
  • Any other retirement statements

• Rent Agreement or Mortgage Statement.
• Inventory of properties (see schedule of real estate owned)
• Divorce Decree, if applicable.
• Bankruptcy papers if bankruptcy discharged in last 7 years

Step Two Disclosure and Commitment:  I will present you with 2-3 suitable options based on your goals, income and your credit.   We’ll chose one, and you we will sign a disclosure package, which lists all the terms and conditions that apply to your loan.  This is done shortly after Step One, and generally in the office if we’re meeting together.  We’ll need everything signed.  You will order an appraisal at that point; appraisals are the borrower’s responsibility to pay for.  An appraisal costs $300-500.

After the appraisal is paid for, you are eligible to lock your loan.

Step Three Underwriting:  I’ll submit your file to underwriting.  Prior to this point, I may need additional documentation to clarify your situation.   The underwriting process in today’s market is currently taking 5-7 business days.  You will get daily updates during the entire process.   About 35% of the time, the underwriter will ask for more details, documentation or disclosures from you.  This is normal.  We will meet these disclosures and then move forward.

Step 4: Final Review and Re disclosure: 3-4 days before closing, we always take the time to go over the loan again, and ensure you understand it.  Ohio state law requires a final disclosure of all terms of the loan a minimum of 24 hours prior to closing.  We will go over all the terms of your loan a few days prior to closing, in order to help ensure that yo know what’s going on.

Step 5: Closing:  You will know far in advance what to expect.  You’ll be able see the rates and term of your loan prior to closing, and nothing will change.  We’ll be sure to follow up with you periodically to make sure that your mortgage is the right one for your current goals.

Our process is straightforward, and we will give you daily updates on progress throughout the process.