MORTGAGE LOAN QUALIFYING
ABOUT QUALIFYING FOR A MORTGAGE LOAN
Your home isn’t just a place to live; it’s an investment for you and your family’s future. Here at Fairway Independent Mortgage Corporation, we offer a wide variety of loan options to meet the unique needs of our customers.
We understand selecting the right loan product can be overwhelming; however, our mortgage professionals will provide tailored advice to help you make the best decision for you and your family.
How to Secure a Mortgage Loan
It’s actually quite simple to take the initial steps to determine what you may qualify for when purchasing a home. Pre-qualification can usually take place the same day that you visit with one of Fairway’s experienced loan professionals. From your initial consultation to applying for your loan to shopping for and closing on a home, we will be with you every step of the way.
STEPS TO SECURING A MORTGAGE LOAN
To learn more about the process of qualifying for a mortgage loan, please see the steps below.
This is where the process starts. Together we have a conversation to determine your home ownership or refinance goals. We will strive to present loan options to meet your desired goals.
Our loan professionals will get the necessary information from you to formally apply for a loan. This can be done in person, online through our website or via our mobile app.
You will provide initial loan documents that your Fairway professional requests – such as tax returns, pay-stubs, bank statement, etc. Your mortgage professional will review and analyze your documentation to determine your loan eligibility. Once we have determined your eligibility, we can issue you a pre-approval. If this is a refinance loan, you will go to the loan disclosure section.
Once you are pre-approved, now the fun begins! Work with a Real Estate professional to help you find your dream home.
Once you find your dream home you will go under contract. Fairway will work with your real estate professional to ensure you have a pre-approval letter that matches your written offer.
You will be issued initial loan disclosures that you can complete electronically or in person. These documents will lay out the specific details of your loan in writing.
Your loan now moves a step closer to approval! During this process, we will further verify documentation, order an appraisal, review title work, homeowners insurance, etc.
Your loan will come out of underwriting with a full approval or a conditional approval – in some cases, we may need to verify some additional documentation.
Your loan is fully approved and ready to close. You will now sign final paperwork that will finalize your loan and home purchase or refinance. Your Fairway loan professional will be with you every step of the way to answer any questions or concerns. Welcome to the Fairway family!
At Fairway Independent Mortgage Corporation, we are always here to help! Just fill out the contact form below and one of our loan professionals will be happy to answer any questions you may have!