The Loan Process

If you’re contemplating moving into a new home, prepare by following Envoy Middle Georgia’s Six Simple Steps to the loan process. Over the years, our company has helped many families, individuals and companies navigate the complex world of getting a mortgage loan. We believe accurate and important information is essential in making the process easier.

Envoy’s Six Simple Steps:

1. Papers scattered everywhere? Get organized! Gather the following documentation: valid identification; your last two pay stubs or other forms of income documentation, a divorce decree, if you have one, bank statements, recent retirement statement accounts, monthly payments on all open accounts and tax returns.

2. Before you call a real estate agent, call one of our loan officers and set up an appointment to get prequalified. Bring the documents listed above. This step is essential, since pre-qualification will determine how much house you can afford. You’ll also be in a position where you can negotiate the asking price of a home with a seller because you’ve been pre-approved. In turn, it will help you close a lot sooner.

3. Once you’ve been preapproved for a loan, discuss the various financing options available with your loan officer. Have a discussion about the length of the home. Do you plan to sell in a few years? Are you planning to raise a family long-term in the home?

4. This exciting step involves applying for the loan. Your loan officer will walk you through all the required documentation.

5. Once you’ve applied for your loan, the approval process will begin immediately. The verification of your credit history, employment history and more will take place. Depending on your situation, additional documentation may be required.

6. Once your loan has been approved, you’ll be required to sign the final documents. You should be prepared to bring a certified check for your down payment. Your loan should close once the documents are signed. If you are refinancing or have applied for a home equity loan, federal law requires that the documents be reviewed for three days before your loan can close.

For more information, contact one of our loan officers!