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Getting Started
STEP 1: The Application
The first step in the loan process is to complete the application, known as form 1003. Your Loan Advisor can assist you in completing the form, but it is critical that the form is completed with 100% of the information requested to expedite your loan.
STEP 2: Documents
Next, we will need to collect 5 preliminary documents, these will include two forms of ID, a government ID and a Utility Bill or Credit Card, 2 Months of Ban Statements, Two W2 Forms or Last Two Years of Tax Returns, Your Purchase Contract or Mortgage Statement, and a signed Credit Card Authorization for Your Credit Report. Get these documents within 48 hours of your initial application.
STEP 3: Credit & Appraisal
The credit report in addition to the application and documents is the most critical part of the qualification process. The appraisal will ensure that the home you are buying or refinancing will give you the most value for your loan whether purchasing or refinancing.
Processing
The Processor will work with you and your loan officer to collect the rest of the documents and prepare the Loan for the Underwriter to review and approve. You must work to meet the milestones and get the necessary documents over to the processor.
Underwriting
The Underwriter is going to work with Processing to ensure we have everything needed for the team to approve your loan. The Underwriter is diligent but also wants to see your loan approved and will work with you to do everything in our power to get you approved.
Closing & Funding
Once your loan is approved, the Underwriter will work with the closer and title company to get your closing package to the title company for signing and closing and the funder will submit the wire with your payment. Title will collect any closing costs and escrows when the Loan Closes.
Frequently Asked Questions
If you are still thinking about opting for Homestead as a loving home for your loved ones, you can always check out the common queries about our service and support. Ut enim ad minim veniam, Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Is Homestead A Safe Place For Elders?
Of course, you can! We support making a strong bond with your loved ones even if you are staying away from them. Any type of food from your home is allowed.Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Can I Stay With My Loved Ones On Holidays?
Of course, you can! We support making a strong bond with your loved ones even if you are staying away from them. Any type of food from your home is allowed.Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Can I Bring External Food Every Week?
Of course, you can! We support making a strong bond with your loved ones even if you are staying away from them. Any type of food from your home is allowed.Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Can I Admit Two Elderly People At A Time?
Of course, you can! We support making a strong bond with your loved ones even if you are staying away from them. Any type of food from your home is allowed.Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.