Mortgage Process

1. Complete your application.

The application will ask you questions about the home you wish to purchase/refinance, and your current finances. As soon as you've submitted the application, we'll review your request for approval. If your application is approved, we'll contact you and prepare a Pre-Approval letter so you can begin meeting with realtors, sellers, and contractors.

If you're purchasing a new home, your Loan Officer will also contact the Real Estate Broker or the seller so that they'll know who to contact with questions. 

If your application is not approved, we'll be happy to meet with you and let you know what steps you'll need to take in order to improve your credit score and prepare yourself for home ownership. Take this free "Homeowner Readiness Check" from Freddie Mac to learn more.

2. We'll send you an application kit and prepare your loan for closing.

The application kit will be sent to you and will contain papers for you to sign along with a list of items you'll need to verify about your finances.

We'll order the appraisal from a licensed appraiser who is familiar with home values in your area. Depending on your finances and the loan amount requested, different types of appraisals are used. Sometimes the appraiser will need to view the home; sometimes they are able to do their evaluation from the street.

Title insurance will be necessary. If you are purchasing a home we'll work with the Real Estate Broker or seller to insure the title work is ordered as soon as possible. If you are refinancing we'll take care of ordering the title work for you. We'll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents. 

3. We'll contact you to coordinate your closing date.

After we receive your application kit, the appraisal, and the title work, we'll contact you to schedule your loan closing. If you are purchasing a home, we'll also schedule the closing with the real estate broker and the seller.

The closing will take place at the office of a title company or attorney in your area who will act as our agent. A few days before closing your Loan Officer will contact you to walk through the final information.

That's all there is to it! Apply Now and you will be on your way to the most convenient home loan ever! 

Choose Heritage Bank for your next home loan - Apply Now!


We appreciate your comments and ideas.