The Next Step is....
There is a perception out there that getting a mortgage is difficult. The truth is…it does not have to be. That’s why I’ve created the C3 Mortgage process.
Step 1 - Get Pre-Qualified
Or call now for a quick phone application:
Send Documents: Send us your income and asset related documents. Click HERE for a list.
We will review your income, assets and credit history to determine if you meet the general criteria for a mortgage loan.
Step 2 - Goals Meeting
At this meeting we will review your application and more importantly hear about your personal and financial goals. Call us now to schedule your Goals Meeting (512) 524-8310 or shoot us an email with some times that are convenient for you. This meeting typically last 20-30 minutes and can be by phone or in person.
Step 3 - Preparation
We are here to help you make an informed decision. So, we provide you with the tools to evaluate the mortgage option that best fits your goals PLUS put you in a solid position to win the contract. These items include:
- Qualification Letter
- In a competitive market, having a solid Qualification Letter from a trusted mortgage company is essential. Your agent will include this when presenting an offer on a home.
- Mortgage Estimates
- Our goal is to provide clarity to the mortgage process. So we have developed tools to present not just one mortgage option, but give you a variety of options so you can determine the program that fits your budget both now and in the future.
- Next Steps
- We will give you the specific documents needed and expected time frames so you can have confidence. Our #1 goal is that your mortgage experience will be smooth and predictable!
The Loan Process and Key Contacts
Below is a time frame for a "typical" mortgage process but we often make adjustments to accommodate a shorter closing time frame if needed.
Day 1-3: Disclosures and Loan Set-Up
Key Contact: Greg Harper - Loan Coordinator
(512) 524-8376 / Greg.Harper@SupremeLending.com
We will send the federally required loan disclosures for you to review and sign. Most of this is done electronically to save you time. If we don't already have your supporting documents, we will collect them at this time as well. Here is a list of the general documents needed for most loans.
Once the disclosures are signed, we basically verify all of the information and documentation you've provided us to this point. We order verification of income, assets, employment and identity. Then request the title report, homeowner's insurance and order the appraisal.
Day 4-14: Loan Processing
Key Contact: Lorrayne Middleton - Loan Processor
(512) 524-8369 / Lorrayne.Middleton@SupremeLending.com
Lorrayne Middleton will organize the loan file and submit it to the underwriter for review. She will send you updates and may request additional documentation to satisfy any specific requests from the underwriter. Lorrayne also prepares the file for closing after approval.
Day 15-16: Underwriting
Our underwriters are "in house"...just down the hall actually! That means the good communication internally translates into clear and confident communication externally to you. After initially reviewing your file, the underwriter will typically issue the "Initial" Approval subject to any outstanding items. For example we may still be waiting on the appraisal to be completed or we may need an updated paystub or bank statement. Lorrayne will contact you with an update and request any items needed to obtain the "Final" Approval...often called the Clear To Close!
Day 17-18: Closing Preparation
Once we have the "Clear To Close" from the underwriter, the final loan documents are prepared and forwarded to the title company. Once the title company has the loan documents, they will prepare the final settlement statement (often called a HUD-1) and send it out for review. We will make sure you get a copy to review. The settlement statement has all the final numbers including the amount of money needed at closing.
A cashier's check made out to the title company is required in Texas, or funds can be wired from your financial institution. Please let us know if you need wire instructions.
We make every effort to attend the closing with you to answer any questions and make sure you know exactly what all the documents mean.
Closing are generally scheduled for 1 hour at the title company office. Make sure to bring your drivers license and a cashier's check for the amount due (if you didn't already send a wire transfer).
WE ARE HERE TO ANSWER YOUR QUESTIONS ALONG THE WAY!
Communication is our priority, so please know we are here to help if you have questions or concerns along the way. Here is a list of our team.