APPLY
  • SEO

LOAN PROCESS

Ready to live in the house that you deserve? We think you are.

When it comes to your homebuying goals, choosing the right house is just part of the process. We must also make sure that you are financially fit and your monthly payment isn’t too big of a burden for your day-to-day life. Summit Loan Officers are here to keep you motivated and answer any questions you might have. Here is a glance at what a typical home loan process might look like.

START THE PROCESS

  • Speak with a Loan Officer
  • Review credit report, financial and personal goals
  • Assessment of how much you qualify for
  • Prequalification letter is issued, contingent upon final underwriting approval

FIND YOUR NEW HOME

  • Find a Real Estate Agent partner you trust
  • Search for your new home
  • Negotiate purchase agreement

LOAN APPLICATION

  • Meet with your Loan Officer
  • Appraisal fee is collected, after 3 days
  • Great time to ask any questions you may have

PROCESSING

  • Finalize rate and loan program
  • Verify asset / income documents and employment
  • Finalize homeowners insurance
  • Order appraisal
  • Submit to underwriting

UNDERWRITING

  • Underwriting reviews file and approves
    credit and collateral
  • Satisfy final approval conditions

SIGNING DOCUMENTS

  • Loan documents sent to title / escrow
  • Title / escrow company will provide you with the amount needed for closing – make sure to bring a cashier's check
  • Review and sign final documents
  • Loan is funded, home records

GET YOUR KEYS

  • Receive your keys and celebrate in your new home!