Mortgage Loan Process
  • March 10, 2010
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    • Mortgage Loan Process

    The mortgage loan process can be a daunting and confusing task. Lots of paperwork, documents and all that mortgage jargon can be overwhelming. Superior Lending wants to make that process easier for you by giving you the "heads-up" on what to expect and how you can prepare yourself.

    The Mortgage Loan Process*

    1. Contact us or visit our loan application page.
    2. You & Superior Lending
      • Fill out application
      • Sign application & disclosures
      • Discuss mortgage needs and options
    3. Superior Lending
      • Checks your credit
      • Researches mortgage programs and interest rates with monthly payments - presented to you
    4. You
      • Recieve Good Faith Estimate & Truth In Lending 3 days after application appointment
      • Gather all necessary documentation - DL, SSN card, 2 current paystubs, 2 months checking/ savings & other asset statements, 2 years taxes
      • Approve mortgage program
    5. Superior Lending
      • Prepares and submits application packet to lender
      • Locks interest rate with lender(s) - before closing
    6. Lender(s)
      • Approval subject to "conditions"
    7. You & Superior Lending
      • Meet "conditions" from lender(s)
    8. Lender(s)
      • Approves mortgage
      • Sends paperwork to title company
    9. You & Superior Lending
      • Meet @ title company for closing
      • Sign & finalize paperwork
    10. Lender(s)
      • Funds mortgage loan
    11. You
      • Move in & enjoy your new home!!!

    *This a general overview, variances may occur. Refinancing requires more documentation.