How to Begin the Online Home Loan Application Process
One size does not fit all when it comes to home loans. That's why our team of experienced mortgage specialists will treat you as a unique individual throughout every stage of the mortgage process.
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 provide you with a mortgage pre-approval
for a specific loan amount.
We’ll order an appraisal from a licensed appraiser in your area. The type of appraisal varies by loan type.
Your file will be reviewed by our underwriting department for loan eligibility.
Once your loan has been underwritten, your loan processor will contact you with the loan decision and notify you of any additional documentation requirements.
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.
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 as the mortgage process draws to an end, but you can also feel free to contact your Bank of Internet USA Mortgage Consultant with questions or concerns.