The Mortgage Process

During The Documentation Stage you are the most important player on the team. As quarterback of the documentation stage, there are a few critical documents we will be asking you to hand off. These documents include:

1. W2’s – From the last 2 years
2. 1040 Federal Tax Returns – From the last 2 years
3. 2 Most Recent Paystubs
4. 2 Most Recent Bank Statements – All pages
5. Copy of your drivers license

During this stage, it is critical that you don’t change any aspects of your financial picture. This means:

• No Major Purchases (e.g. Purchasing furniture for your new home)
• No Applying for New Credit (e.g. Obtaining financing for Car)
• No Change in Employment (Please Don’t Quit Your Job!)

During The Underwriting Stage, our Loan Processor reviews all the submitted documentation that you’ve provided and then turns it over to our Underwriting Department. The Underwriter is responsible for performing three critical tasks:

1. Organization – The Underwriter will compile and organize your documentation into a mortgage-ready file.
2. Qualification – The Underwriter will reconstruct your scenario to ensure it meets our qualification requirements and guidelines.
3. Verification – The Underwriter will verify that all information is accurate and authentic.

It is not uncommon for Underwriters to request additional documentation, so please do not be alarmed or discouraged if this happens. Instead, be sure to accommodate these additional requests as quickly as possible.

You’re almost there! During The Clear-To-Close Stage the Underwriter “double checks” that all documentation has been provided and all conditions have been met. We will prepare the final documentation that will need to be signed at closing and we will be reaching out to schedule a closing date.