MORTGAGE PROCESS

Congratulations on beginning your mortgage process! We are thrilled to work with you!

Below you will find a short summary of what to expect over the next few weeks. As this is an auto generated list, not all points will be relevant for every buyer. Sherri and Kara will be reaching out periodically to help with next steps of the process. Please be sure to check your email frequently, as that is how we will communicate with you about necessary information or needed documents.

Here is a quick summary of what you can expect to see in the next few weeks:

  1. Our team is going to reach out to collect some basic information from you. Please submit the documents back to us with all of the pages included and legible as the investors are picky these days. Also, here's a quick reminder that pictures are only acceptable for a driver’s license

  2. When we get the documents back from you, we will prepare your loan documents to include your rate, terms, etc. Those documents will be sent through a secure email link and can be signed via e-sign.

  3. You will have a home inspection in most cases (if this is applicable, please let us know when this is complete and that there are no issues with the house).

  4. After the inspection is complete, we will begin to process the loan and finalize any missing documents.

  5. We will order your appraisal after the inspection is clear. This is the only fee you will incur upfront throughout this process. Appraisals typically cost $500 to $600 depending on your loan type.

  6. At this point, you can begin to shop for homeowners' insurance. Let us know which company you plan to use and who your agent is when you have finalized your insurance.

  7. We will submit your loan to the underwriter once we hear back from you. We will ask you for any additional documents they are wanting us to receive.

  8. Once your insurance is finalized and your appraisal is back, we will begin to finalize the amount you will need to bring to closing.

  9. You will be asked to wire your funds to the attorney. Please be sure the wiring instructions are followed exactly and not altered to avoid any fraud scams.

Everyone on our team is ready to help you at any point. Feel free to call the office any time at (478) 757-8801, and Sherri or Kara can help answer any of your questions or concerns. Email them at sherri@midstatemtg.com or kara@midstatemtg.com.