Finding your dream home is just one part of the mortgage financing process. On the back-end, three very important steps must take place first: processing, underwriting and closing. The loan consultants at Premium Mortgage Corporation in Rochester, Buffalo, Syracuse NY, and Barre, VT are your go-to experts to help you navigate your way to your new house.
Here’s how the mortgage process works after you’ve submitted your loan application:
- Processing: At this stage, a loan processor collects all documents to support your mortgage loan request, such as credit reports, income, assets and previous housing verification. An appraisal of the desired property also takes place to assess the home’s market value. The lending team at Premium Mortgage Corporation specializes in helping you gather all the necessary documents to speed up the mortgage process.
- Underwriting: Your application undergoes a complete review by the loan processor. In addition to comparing your loan request to the lender and investor guidelines, the underwriter also makes a decision based on those guidelines. The mortgage loan officers at Premium Mortgage Corporation are trained to ensure the underwriter has all the necessary information needed for the critical phase.
- Closing: During this stage, you sign the papers for your mortgage loan and the property is transferred if it is a home purchase. Once you’ve reached this point, you’re very close to getting your new house. Depending on the state, the closing process can take place at a bank attorney’s office, real estate office or title company.
The three stages of securing that home you’ve been eyeing doesn’t have to be long and drawn out. With the professional team of loan officers at Premium Mortgage Corporation, getting through the processing, underwriting and closing phases will be streamlined and expedient.
To learn more about how Premium Mortgage Corporation can help you, call 1-877-690-7240. Visit the website for details on mortgage refinancing, reverse mortgage and securing the best mortgage rates.
For additional information, contact:
Premium Mortgage Corporation
2541 Monroe Avenue
Rochester, NY 14618
Equal Housing Lender
Licensed Mortgage Banker NYSDFS