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MORTGAGE LOAN PROCESS

  • Consultation    
  • Apply
  • Loan submission
  • Clear to close – in 10 days!  

Close your loan app in 10 days or less!

Consultation | Initial Meeting

The initial meeting is absolutely crucial to the mortgage loan process.  At this stage, we get to know you and your financing needs.  Click here and schedule your appointment.

Mortgage Loan Process | Your Mortgage Objective

In general, we want to understand the purpose of your new home loan.  Such as, whether it is a purchase or a refinance.  Next, we want to know the timeframe for getting your funds to the table.  For instance, are you under contract for a new home, and if so, then what is the closing deadline?  Similarly, you may be shopping and looking for a pre-approval mortgage letter.  You may also be an existing homeowner refinancing, needing funds for important payoffs.  

We Expedite the Mortgage Process

Application | 1 Day

At this stage, it’s time to apply and start the mortgage loan process.  The first order of business is collecting the required documentation.  For example, W2’s, paystubs, bank statements, and your driver’s license.  Next, we complete the initial file prep, and pull credit.  Thereafter, the FICO is established, and the loan is registered.  

E-signatures | Loan Submission

Moving forward, the lender emails out the initial disclosure package.  It is crucial to e-sign the forms ASAP!  When the package is fully e-signed, then the loan app is pushed into underwriting.  In most cases, the turn time for stage 2 is roughly 3 business days.  

General Inquiry Form

Select your objective from the drop down menu. Fortress Home Mortgage will answer all of your loan questions before you apply!
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Underwriting | 7 Days

Now, your loan app is rocking and rolling!  At this time of the mortgage loan process, we are in high gear.  It is important to understand what is happening at this stage.  First, we have submitted your loan app and supporting documentation to the lender.  In a nutshell, an actual human will go over all of the details to ensure its accuracy.  Simultaneously, you have made the payment for the home appraisal.

Conditional Mortgage Approval 

Next, the lending underwriter issues the mortgage conditional approval letter.  We immediately address the needed underwriting requirements to fulfill the mortgage conditional approval.  In business jargon, we are “clearing” the mortgage conditional approval. 

All in all, it takes on average roughly 7 to 8 days to complete all of the requirements of the mortgage conditional approval.  

Closing | 10 Days

Ultimately, the lending underwriter has signed off on the loan app.  She has cleared all of the items on the mortgage conditional approval.  Thereafter, she deems the file with the most sought after words in the mortgage industry.   

The Magic Words | Clear To Close!

Without a doubt, the most popular phrase in the business is “CLEAR TO CLOSE!”  The mortgage loan process now enters the final stage.  First, we push the loan to the closing department.  Then, all parties to your transaction are notified.  Such as, the Realtors and title agency.  Next, we coordinate the closing date, time and location.  Thereafter, we prepare the closing doc package, and work up the final closing disclosure. 

Overall, the final stage coordination takes up to four days, but it can vary.  The key to note is we have complete the mortgage loan process, and we are ready to close!

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