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Churchill Mortgage By Churchill Mortgage • April 26, 2019

The 5 Steps of the Mortgage Process

Some parts of the home loan process you need to take care of now while other parts will occur after you've selected a home. Here's an easy-to-understand view of the home loan process:

Step 1: Become a Certified Home Buyer.

This is the beginning of the loan process. You'll get a pre-approval with upfront underwriting. This will save you time in the long run since you don't need a property address for this part of the process and can start looking for your dream home.

Step 2: Complete your Application.

You'll need to complete a mortgage application, discuss your down payment amount, closing costs, and interest rates with your Home Loan Specialist.

Step 3: Processing Steps In.

After the application is completed, you'll start the process of getting your third-party services (i.e. appraisal, home inspection, etc.) under wraps. You may also be asked for additional documents if you haven't already provided them. 

Step 4: It's Time for Underwriting.

Your home loan will go through underwriting  (remember, it's already been through underwriting at the beginning of your home loan process if you became a Certified Home Buyer). This just verifies that all conditions on the home loan are approved and the underwriter will issue a "clear to close."

Step 5: Closing on Your Home.

The underwriter issues final approval, processes the closing disclosures, schedules your closing date and time, completes the closing and then funds the loan! On your official closing day you'll have a lot of documents to sign (mortgage documents, tax records, legal disclosures etc.) but in the end you'll have the keys to your new home.

Keep in mind, just because your loan closes with Churchill, it doesn't mean your service stops there. Your Home Loan Specialist continues to be available to you to answer any questions regarding your mortgage.

We also provide:

  • A yearly review of your mortgage to make sure your home loan is still meeting your financial goals – we call this our Churchill Checkup!
  • Monthly updates about your investment with Sold Home Alert.
  • Continued education for you, your family, and friends with regular market updates and updated 

Ultimately, the most part of the mortgage process is finding a lender who understands you and your home loan goals. At Churchill Mortgage, we believe you can achieve the dream of owning a home no matter your starting point. We take extra care to get you a mortgage that gives you more and won't leave you feeling overwhelmed.

For more information about the mortgage process or how to become a Certified Home Buyer, reach out to a Home Loan Specialist in your area.