Summary of the Mortgage Loan Process with 1st Georgia Home Mortgage
At 1st Georgia Home Mortgage, we work hard to ensure that your loan process from start to finish is easy and understandable. Explore a brief overview of our steps of a home mortgage process below or call us today at 770-606-1066 to learn more.
The Seven Steps of the Mortgage Loan Process
Step 1: Pre-Approval
We assess your ability to repay the loan and provide the cash needed to close. You can then house-hunt within a comfortable price range, and sellers can confidently deal with you.
Step 2: Loan Options
Our loan originators verify your ability to repay the home loan by collecting supporting documents beyond the application. Once done, we lock in an interest rate for you.
Step 3: Loan Processing
We move your loan application through the system quickly and efficiently, including employment verification, residential appraisal, title work, and insurance information collection.
Step 4: Underwriting
Our underwriters determine whether your loan presents an acceptable level of risk and meets all required guidelines for the loan program. Once approved, the file goes to the Closing Department.
Step 5: Closing Documentation
The loan file goes through a pre-closing review for quality assurance. We confirm the closing date and time, prepare the closing documents, and deliver them to the title company.
Step 6: Loan Closing
You meet with a title company representative and our loan originator to sign and make copies of the mortgage loan documentation. Payment is made to the title company to fund the loan.
Step 7: Loan Servicing
We take care of the administrative aspects of your loan, including maintaining accurate records of the loan balance, collecting escrow funds to pay property taxes and insurance, and sending you the tax and interest statement (1098 Statement) for taxes. Contact us if you have any questions.
Learn more about the home loan mortgage process by connecting with our team today by calling 770-606-1066.
