Mortgage Application

You'll be asked to complete the 1003 Uniform Residential Loan Application. Although there are over 300 possible entries for a married couple, answer what you can. A loan agent or a loan processor will receive the loan submission and contact you to help you answer those items which need further explanation. At this point the processor will want to verify your accounts.

Mortgage Documents

You will be asked to mail the documents that will be required to complete the loan process.

Interest Rate Lock

After the preliminary processing you will asked if you want to lock your interest rate. You may always check the rates, daily if you wish, and contact your loan agent and ask about their lock process.

Credit Report - Appraisal

You will be asked for two checks. The first will be for a full credit report (normally $50 to $90 depending on the State and complexity). The second will be given to the appraiser who is chosen to value your property, this fee is normally around $275 to $350 for moderately priced homes, but varies a great deal depending on the State, value and property type.

Loan Closes

Once the loan documents are complete you will need to contact a notary who is familiar with loan documents and sign the forms completing the loan process. In some States the closing process is handled by an attorney or title company. Check with your broker/lender.