Mortgage Process
 Step
3
Processing Your Loan
Once I give you an initial approval, I can continue
the loan process if you already have a property selected. Once you’ve
told me about your property, We can order the following items:
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Title search and report
– this is a review of the legal records to check the validity
and completeness of the title to the property. This search will uncover
any liens or other claims made against the property by other people. |
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Appraisal –
this is an opinion or estimate of the value of a property made by
a person qualified by education, training, and experience to estimate
property values based on factors such as the current real estate market
and comparable home sales in the neighborhood. |
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Flood certification
– this is a certification that the property is or is not located
in a flood plain. This certificate is required by law for a mortgage
and will indicate if flood insurance is required for the property. |
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| While we are waiting to receive these
documents, your supporting documentation, will be reviewed to determine
whether your income and assets meet our underwriting criteria. |
