You can help speed the process by:

• Providing complete documentation with your application.
• Responding promptly to your lender's request for more information.
• Calling your lender and real estate agent to check on your loan application status
• Helping contact employers and others who may need to provide documentation.
• Keeping records of your conversations with your lender.

Here's what's happening while you wait:

Underwriting verification

Our team of underwriters springs into action, verifying the information
on your application and supporting documents. We will contact your employer, for instance, to verify that you work at the job and at the
salary stated on your application.

Appraisal

We will also require an independent appraisal of the property prior to closing, the outcome of which could affect the rate and terms of your mortgage. The work will be done by a licensed appraiser, who will
arrive at an expert's estimated value of the property based on physical inspection and a sampling of comparables or "comps" -- prices paid for comparable properties that have recently sold in the neighborhood.
Cost of an appraisal typically runs between $300 and $500.

Title search and title insurance

The title company will go to the county courthouse and research the history of the property, looking for encumbrances such as mortgages, claims, liens, easement rights, zoning ordinances, pending legal action, unpaid taxes and restrictive covenants. The title insurer then issues a policy that guarantees the accuracy of the work. We will require a title policy that protects the lender. In some cases two policies are issued, one to protect the lender and one to protect the property owner.

Survey

Some lenders also will require that a home's property lines be verified by a professional survey.

If you are ready to get started you can Apply Online or contact one
of our experienced Mortgage Consultants for more information.

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