The Mortgage Process - mortgagesfirst.com

The Mortgage Process

We've designed our site to make it easy for you. This brief diagram will give you a good jump-start!

Event	Who Does It	Details
Review our loan information	Applicant	After reviewing our Home buying Center, or Refinance Center you may apply for your loan.
Apply	Applicant	Complete an application. This will set the process in motion.
Loan Originator Contact by Phone	Mortgages First	Your first connection with your loan originator will get a dialogue started which will insure that you get the loan that you want.
Credit Check & Prequalification	Mortgages First	We pre-approve you using our artificial intelligence software, or underwriting your loan in-house. Our system will assess your credit, income and assets to quickly determine what loans you qualify for.
Required Loan Documentation and Paperwork	Applicant/Mortgages First	Paperwork is still a big part of the loan process. We will mail you forms to sign and a document checklist.
Rate Lock & Appraisal	Applicant/Mortgages First	Once we determine your loan amount, type of loan and rate, your loan agent will recommend the appropriate time to lock the rate with a lender.
Loan Submission for the Best Rate/Program	Mortgages First	Once all of the paperwork is assembled by our processors, your package will be forwarded to underwriting for approval.
Underwriting and Approval	Mortgages First/Lender	An underwriter will review the package and fax an approval to Mortgages First and any conditions necessary for the approval. Most conditions are taken care of by Mortgages First.
Clear Loan Conditions	Mortgages First	Our closer gets the conditions from underwriting for final preparations to close.
Loan Documents Delivered	Mortgages First/Lender	Loan documents are prepared and delivered to the escrow agent. The escrow agent will call you to arrange a signing. This is coordinated by your loan originator, your Realtor and the escrow agent.
Loan Funding	Escrow/Mortgages First/Lender	Once the signed documents are returned, they will be reviewed. The escrow agent will request a wire transfer of the loan funds, close and record the transaction.

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