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Loan Process
The mortgage loan process doesn't have to be difficult. Once you have made the decision to apply with Texas Mortgage Genius, your Mortgage Loan Originator will work with you to obtain the necessary documentation for a loan decision.
A pre-purchase home inspection, performed by a professional, is a visual examination of the readily-accessible areas of a home to provide an accurate evaluation of its condition. While a home inspection is not required, it is highly recommended.
Below is a summary of the mortgage loan process so you have a better understanding of what to expect:
- 1
Homebuyer
- Contact loan originator for financing information.
- Gather information needed for your application.
- Begin the search for your new home.
- 2
Mortgage Loan Originator
- Assists you in completing the loan application.
- Discusses qualifying, monthly payments and cash needed for closing.
- Explains various loan programs and quotes interest rates.
- Communicates documentation requirements and answers questions.
- 3
Processor
- Communicates with you on items necessary for closing.
- Pre-underwrites and prepares loan for approval.
- Works with all parties involved in the mortgage process.
- 4
Underwriter
- Requests any additional documentation needed.
- Works directly with originator and processor to approve your loan.
- Renders the final decision on your loan.
- 5
Closer
- Assembles the package for your closing day.
- Sends the package to the closing agent's office.
- 6
Closing Attorney
- Contacts you for Homeowner's Insurance information.
- Prepares the Settlement Statement and emails the processor.
- Processor reviews the settlement figures and cash for closing with you.
- 7
Closing
- Takes place at the closing agent's office.
- Bring a certified check and any other required documentation.
- Bring Homeowner's Insurance with paid receipt for one year.