United Northern Mortgage Bankers, Ltd.

Home
Buying Process

We will help guide you through the home buying process so that you are educated and comfortable moving forward.  Here’s what you can expect when applying for a mortgage or refinancing your loan:

PRE-APPROVAL

Submit preliminary documents: W2’s, pay stubs & bank statements schedule free consult.

FIND A HOME

Share your “wish list” with your realtor.

MAKE OFFER

Offer accepted / sign binder. Schedule inspection & send inspection report to your real estate attorney.

SIGN CONTRACT

Make offer, review & sign your contract with your real estate attorney.

APPLICATION PROCESS

Gather remaining documents to submit with completed and executed loan forms & disclosures.

APPRAISAL

A licensed, independent appraiser determines the market value of your home.

Helpful Hints & Common Mistakes

Save & submit all future pay stubs

Save & submit all future bank statements (complete w/ all pages)

Keep copies of all documents you submit to processing

Continue to pay all of your debts & loans on time

Don’t change or quit your job

Don’t change banks

Don’t finance a car or co-sign a loan

Don’t make any large purchases

Don’t be late with payments

Don’t make large cash deposits

Don’t apply for new credit cards

PROCESSING

Receive your welcome package. Processor completes all veri cations for credit, employment & assets.

APPRAISAL REPORT

Receive & review. We will update you on outstanding conditions, pending loan approval within 3 days of receipt.

UNDERWRITING

Processor submits le to underwriting department for nal review & commitment letter. Commitment letter issued & sent to you and your attorney for review.

TITLE REPORT

Your attorney submits the title report to the bank attorney for review & clearance.

HOMEOWNER’S INSURANCE POLICY

Copy of appraisal & mortgage clause provided to you to secure homeowner’s policy.

CLEAR TO CLOSE

Submit all closing conditions noted on commitment letter for nal clearance.

SCHEDULE A CLOSING

You & your attorney are noti ed that your le is cleared to close. A closing date is scheduled by attorneys with bank attorney.

FINAL WALK-THROUGH

Borrowers do a nal walk-through of the property to approve condition of the house prior to signing closing documents.

CLOSING

All parties sign closing documents with bank attorney. Certi ed check instructions provided 24-hrs. prior.

LOAN FUNDED

Bank wire received. You take possession. Move in and enjoy your new home Congratulations. you are now a homeowner.

DOWNLOAD THE
“MY MORTGAGE APP”

Save time by using our speedy online application process. Find your dream home with our MLS search feature.

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