 
| | If you live in the Colorado Springs area you may find the most convenient way to apply for a loan is to meet with one of our experienced loan officers to go over all of our available financing options and apply in person.
We are also be happy to take your application over the phone.
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Pre-qualify
Pre-qualifying happens before the actual loan process begins. We will gather information about your debts and income, and then make a determination about how much you will be able to afford to spend on a home.
Before you start shopping for a home it's a good idea to know how much you can afford. When refinancing your loan on an existing home – pre-qualifying can help you decide if you refinancing is a good choice.
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Application
The loan process begins with your application and occurs after you have found a property or if you have decided to refinance your existing home loan. You fill out the mortgage application for a loan program and then supply the required documentation and paperwork used for processing. At this time fees and down payment options are discussed.
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Processing The Estimated Loan
The application package will usually be submitted to an automated underwriting system which will give the us the documentation necessary for your loan approval. In other cases we will manually underwrite your application.
The processor reviews the documentation and credit reports, verifying your payment history, debts, and employment. If there are collections, late payments, or other debts the processor may request a written explanation. The processor will also review the appraisal and check for any property issues that could affect the loan approval. The process puts together the application for our underwriter.
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Underwriting
Our underwriter will be responsible for determining if the application put together by the processor then meets the standard criteria. Sometimes more information will be required and the loan will be suspended until the further documentation is provided.
Upon underwriter approval, a conditional commitment to lend will be issued, title insurance will be ordered, and we will work with you to meet all of the conditions to lend and then schedule a closing date. Some of the conditions to lend may be credit issues, income or property issue that have arisen during the processing.
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Closing
Once all of the conditions are cleared we will issue the full loan approval. At closing time, we “fund” your loan by giving the closing agent a cashier's check, wire or draft – the closing agent will then disburse the funds, and transfer to title of the property. Closing take place at the title company who will be issue tithe title policy. |
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