Loan Checklist - Using our helpful checklist, you can begin to gather documentation necessary to finalize your mortgage pre-qualification.
Consultation- You meet with your AnnieMac Home Mortgage loan originator to understand your true buying power and be pre-qualified. You also review applicable mortgage options and discuss the financing and closing process.
Under Contract- Upon entering into a contract on the home you select your AnnieMac loan originator further tailors your pre-qualification for that specific property.
Attorney Review- Your Real Estate Attorney will review the purchase contract and make sure they are okay with the language and terms of the contract to ensure you are at no risk.
Home Inspection- You will hire a licensed home inspector to do a walk-through of the home with you to ensure it’s in the condition you find acceptable.
Loan Application- Your AnnieMac loan originator reviews interest rate lock options with you and submits your loan application.
Disclosures- After your AnnieMac loan originator submits your loan application; you receive a welcome package including required state, federal and company disclosures (within three days of your mortgage application).
Loan Processing- Your loan processor will make an introductory call and review outstanding checklist items with you.
Underwriting- Once you have provided all necessary information and your loan application package is complete, a mortgage underwriter will review it. If additional conditions need to be satisfied to render a decision, your loan processor works with you to satisfy those conditions.
Appraisal- The appraisal is ordered to determine/confirm the market value of the home.
Homeowners Insurance- Your AnnieMac loan originator will request you to obtain homeowners insurance on your property and to supply your loan processor with the policy information.
Mortgage Commitment- After credit and property are fully approved, your mortgage commitment is issued.
Title Insurance- A title search is arranged by our title company or y your closing attorney to make sure your new home is free and clear of any liens.
Mortgage Insurance- Required for most loans with less than a 20% down payment, your mortgage insurance certificate, if applicable, is ordered.
Final Review- Any outstanding mortgage conditions must be satisfied ten (10) business days prior to your closing date.
Quality Control- Your file is reviewed by our Quality Control Department to ensure accuracy and a seamless closing/settlement.
Closing- At least three days before closing, finalized costs are provided to you for review. You obtain a bank check to bring to settlement for the funds due.
Congratulations- You close and take ownership of your new home!