Mortgage Loan Process

Step 1

Complete the Loan Application

The first step in the mortgage loan process is filling out the application. The application asks numerous questions that will help us at The Casas Team determine whether you qualify for a loan. Answering truthfully and accurately will ensure that no surprises arise that could hold you back from buying the dream of your homes.

Step 2

Gather, analyze and verify all the information in the application

1Contact Escrow

2Order a Credit Report

3Order an Appraisal

4Order & Check Verifications

5Order & Check Misc. Documents

During this second step of the Loan Process, The Casas Team will do their due diligence and make sure that everything is in order before signing for your home. If you are getting pre-approved for a mortgage loan, we will tell you the loan amount that you qualify for after we verify your annual income and check your credit score.

Step 3

In-depth analysis and interpretation of the the information in the loan package

1Order mortgage insurance

2Analyze your credit

3Analyze the home

4Assign conditions

In this 3rd stage, we analyze your credit more in depth to ensure the bank that you are a responsible borrower capable of paying your mortgage. We also analyze the home you are attempting to buy and set conditions for the final documents. As an example, if the home is missing carpeting on major appliances, your realtor might be able to negotiate a reduction in price in order to facilitate the deal. These conditions would then be included in the final documents.

Step 4

Complete the mortgage loan and have it funded by the bank

1Order Loan Docs

2Docs Signed & Verified

3Verification Docs Returned

4Final Conditions

5Funds Requested

6Title Recorded

During the 4th and final stage, this means that the seller of the home has accepted the conditions and is fully committed to sell the home. During this final phase, the final Loan Documents are ordered and final verification documents are assigned (a credit report is typically ordered to ensure you haven’t bought a 2nd home or that you still have a healthy bank account in place). The funds for your mortgage loan are requested and are given to the seller, at which point they turn over the keys and the title is recorded.