Filling out an application is actually the beginning of the formal loan process and usually occurs after you have found a property you want to buy or have determined that you wish to refinance the loan on your existing home. With the help of Janet and her team, you will complete a mortgage application for a particular loan program, along with supplying all of the required documentation for processing. You will discuss various fees, rate and down payment options at this time. You will be provided with a package of initial disclosures that will outline your rights and obligations in the loan process.

Three of the most important are:

The loan application form itself (known as a '1003,'). This form identifies the property being financed, your personal and employment information, assets and liabilities, and other pertinent information that will support the decision on whether you are financially able to maintain the payments. The property being financed is also being evaluated to see if it is adequate security for the loan. Clearly, it is vital that the loan application be complete and accurate. The loan process will go more quickly and easily if there are no discrepancies or issues in the application.

The Good Faith Estimate (GFE) is just that. We are, in all good faith, giving you an estimate of the costs and fees associated with you getting this particular loan - lender fees, title charges, tax and insurance payments, etc. Naturally, this is only an estimate based on the information that we have at the time. However, Janet and her team pride themselves in the accuracy of their Good Faith and their experience allows them to be very precise in the amounts they quote. Revised any time there is a change in the loan, this allows you to always have an accurate idea of the costs of your loan and the amount that you will need to bring to closing.

The (initial) Truth-In-Lending Disclosure (TIL) shows the amount borrowed, the interest rate, the total amount of interest due over the life of the loan and the estimated payments at each stage of the loan.

Based on the information in the application, credit history (from the credit report) and other factors, Janet and her team will evaluate all the available loan programs to determine the best product fit for you. It is important to be working with a professional originator who understands your needs but at the same time knows the loan program guidelines and underwriting requirements to find the right program. This is why we recommend that you work with one of our team of trained professional before you make financing decisions