OUR MORTGAGE
Purchase
PROCESS
WHAT TO EXPECT WHEN FINANCING YOUR NEW HOME.
UNDERWRITING
The Underwriter's role is to determine if the loan package meets the criteria for approval. After loan approval, you might be asked for additional information or documentation before the loan commitment is made.
CONDITIONAL APPROVAL
Our mortgage underwriter, responsible for assessing your loan eligibility, is likely to approve your application if you satisfy the conditions they have requested.
CLEAR-TO-CLOSE
The information is transferred to the closing and funding department. Broker and closing fees are verified and a signing appointment is made to complete loan process.
Congrats!
Enjoy your new home and all the possibilities it holds!
APPLICATION
You’ll collaborate with your mortgage professional to complete the application and submit all necessary documentation.
PRE-APPROVAL
Once your preliminary documentation is received, a financial assessment is made to determine how much you can comfortably afford.
APPRAISAL
The appraiser assesses the market value of a new home by collecting data concerning the property's location, features, and overall condition, crucial factors in determining its value.
PROCESSING
The Processor orders a title report and appraisal, and verifies the information provided in your application, including bank deposits and payment histories. Written explanations may be required for any negative credit items.
Start your homeownership journey with Presidential Bank Mortgage. Let’s explore financing options that align with your financial goals!
