The Mortgage Process

A Step-by-Step Guide to Applying for a Home Loan

If you are at the stage of where you are researching your mortgage options, the process of applying for a home loan may seem confusing and convoluted. The purpose of this Step-by-Step Guide to Applying for a Home Loan from Bank of Internet USA is to demystify the mortgage process and show you how simple and streamlined it can be.

Applying for a Mortgage, The Bank of Internet USA Way

The mortgage process at Bank of Internet USA is simple by design. You can read details about the loan application process further down this page, but here it is in a nutshell:

  1. Apply for a home loan and we will contact you
  2. Provide the documentation we request
  3. We will order an appraisal of property
  4. We will approve your application*
  5. We will contact you to coordinate closing
  6. We will close the loan

Call 1.888.546.2634 to speak to a knowledgeable Mortgage Consultant who will create a loan that is just right for you.

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State-of-the-Art Home Loan Application Software

Our secure and paperless online home loan application and processing software helps to ensure a mortgage process that is simple and efficient. Through our leading online pricing engine, we are able to provide customized to your specific needs. Plus our online loan application process allows you to conveniently apply for a mortgage directly from your home or office.

Once your mortgage application is complete, you simply upload your documents online through our secure portal. You will be advised of the status of your loan application through email and online updates. This innovative technology makes the mortgage process easy and eliminates the hassle of paperwork and faxes from applying for a home loan.

How to Begin the Online Home Loan Application Process

If you are or looking into , the first step is to fill out an online application or get in touch with a Bank of Internet USA Mortgage Consultant at 1.888.546.2634. Our team understands that securing a home loan is not a one-size-fits-all experience and will apply an individualized approach to walk you through every step of the mortgage process.

 
1
Complete our online application or over the phone.
2
Your mortgage consultant will review with you and finalize your application.
3
Your application will be submitted to loan processing. At this time, your loan processor will send you a “needs list” which will contain some documents for you to sign and a list of items we'll need in order to verify the information you provided during the online application and for a specific loan amount.
4
We’ll order an appraisal from a licensed appraiser in your area. The type of appraisal varies by loan type.
5
Your file will be reviewed by our underwriting department for loan eligibility.
6
Once your loan has been underwritten, your loan processor will contact you with the loan decision and notify you of any additional documentation requirements.
7
Finally, we will contact you to coordinate your closing date. If you are purchasing a home, we will also schedule the closing with the real estate broker and the seller.
8
The closing will take place at your home, a location that you choose, or the office of a title company or attorney in your area who will act as our agent, depending on the state in which the subject property is located. If you are purchasing a new home, the seller may also be at the closing to transfer ownership to you, but in some states, these two events actually happen separately.

During the closing, you will be reviewing and signing several loan papers. The closing agent or attorney conducting the closing should be able to answer any questions you have or you can feel free to contact your Mortgage Consultant at 1.888.546.2634 if you prefer.

Online Home Loan Applications are Fast and Easy

Completing our online application is a simple and convenient process. We will ask you questions about your finances and the home you are interested in buying or refinancing. The application is broken down into sections, allowing you to track your progress at the top of the screen. It should take you less than 10 minutes to complete the application.