Getting a Mortgage: The Process

Mortgages are available through mortgage banking companies, commercial banks, thrifts , and other financial institutions. Your real estate sales professional is likely to have information about mortgage lenders in your area. You may also consider asking your friends, family, and colleagues where they got their mortgages.

Once you've selected the type of mortgage you want, you will work with your lender to complete a loan application. Your lender will verify information about your job history, current salary, and your checking and savings accounts. The lender will also want to make sure you qualify for the loan you are seeking -- if you have not already been pre-qualified.

After you have submitted your loan application for processing, the lender is required by law to provide you with an estimate of closing costs within three business days. This is called a good-faith estimate. Lenders are also required to give you the government publication A Home Buyer's Guide to Settlement Costs.

Once your loan is approved and you’ve signed the commitment letter, you are ready to attend the closing and complete the purchase.

I'm ready to apply. Please ask your best lender to call me!