Mortgage Education - Loan Process

One of our goals is to expedite and streamline your loan process, and we've made the commitment to walk you through the entire process, from start to finish.

Below is an overview of the mortgage loan process with Commonwealth Mortgage Group.

Your Application is completed and all the Application Checklist items have been collected.

After reviewing your mortgage loan application, credit history and your checklist items Commonwealth will issue you a pre-approval or in the case of a refinance, disclose the terms of the loan.

If you're purchasing a home, meet with your Realtor and begin your home search. Once you've found a home and your offer has been accepted...

Approval is received from underwriter - All final conditions are collected and a clear to close is issued to borrower.

Commonwealth will order appraisal, title and other verification documents in order to send the file to underwriting.

Commonwealth will review documents and customize your loan program to meet your financial goals. If a purchase disclose the terms of the loan.

Closing is scheduled and closing documents are sent to the title company.

Commonwealth will send you and if a purchase your Realtor a copy of the Closing Disclosure (CD) for you to review.

Congratulations! You have successfully closed your home loan and hopefully Commonwealth has become your lender for life!

Because of ever changing guidelines and the uniqueness of every borrower's mortgage needs please contact one of our mortgage professionals for a loan process that is more customized to your situation and needs.

 

Thank you for taking an interest in Commonwealth Mortgage Group. We'd love to hear from you.

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