Loan Process
We know that the real estate process can seem overwhelming at times. This is why at Fidelity Mortgage Company we make it our priority to make the loan process as simple as possible. Please take a look at our process and familiarize yourself with the documents and steps needed to get loan approval.
Get Pre-Qualified/Approved
When buying a home, you will want to get pre-qualified or pre-approved.
This will help you understand how much you can borrow and eliminate time
wasted searching properties you may not be ab
le to afford. Getting pre-approved
gives you, the home buyer, more leverage when searching for your dream
home.
Organize Your Documents
These are a few documents that will be needed when you are applying for
a home loan. These include two years W-2 forms (for all jobs held), one
month of pay stubs, three months of bank statements, and recent copies
of stock, mutual fund statements, and 401K accounts.
Review Loan Programs and Rates
Determining the right loan for you can be difficult. With different rates,
terms, points, and fees, it's hard to determine which program is best
for you. Please contact us today to discuss the right options for you.
Obtain Loan Approval
Once your loan application has been received, we will start the loan approval
process immediately. This involves verifying your credit and employment
histories, property value, and assets required to close. Based on your
specific situation, additional documents or verifications may be required.
Close the Loan
After your loan is approved, you will be required to sign the final loan
documents.
Be prepared to:
- Bring a cashiers’ check for your down payment and required closing costs.
- Review the final loan documents, interest rate, and loan terms.
- Sign the loan documents.