Testimonials

"Thank you for getting my clients loan funded. They were both extremely happy with your staffs personal touch and attention to detail. That really means a lot in this business."

- Sheila B
Real Estate Broker

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Rate1st Mortgage Process

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Our Mortgage Process

Our Mortgage Process

We are here to help you find the best loan available to you and the best matched lender for your unique situation. Our Loan Experts will go the extra mile to make sure you understand everything you need to know about this important transaction.

Step 1: Pre-Qualification - Before the actual home loan process begins; we gather information about your income and debts and figure out how much you can afford to borrow. There are many different programs available, which can result in different pre-qualification loan amounts. We'll help you find the best lender and loan options for your unique situation. We keep all your information 100% confidential, so you will not be contacted by the lenders competing for your business.


Step 2: Loan Application - Once you're pre-qualified we will prepare a formal loan application, verify employment, income, bank deposits, and gather any other documents needed for processing. We will also order a credit report and run your home loan through an automated underwriting system. We will present all your available options without pressure from our mortgage experts. We are here to help you shop for and find the best deal, we are not here sell you.


Step 3: Processing - We review your credit reports and verify your debts and payment histories. If there are late payments, collections for judgments or other concerns, we get a written explanation from you, which may clear up any of these types of issues. We order the appraisal and review for value. Title insurance and homeowner's insurance is ordered. A complete package is put together for final approval.


Step 4: Underwriting - This is where we make sure your home loan package meets all final lender requirements. At this point we have usually gathered all the information we need. In some instances, however, we may require additional information and will contact you quickly to make sure approval happens on time.


Step 5: Closing - Your home loan has been approved, all conditions have been met and a closing date and time are scheduled. We will assign a notary to meet with you at a time and place of your convenience (usually in your home) to review and sign final loan documents, then funds are disbursed.


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