The Loan Process

Mortgage and Home Loan Process in Green Bay, WI

The typical mortgage and home loan process can take from 30-45 days after you find a home and attain an accepted offer. Once paperwork is signed outlining the terms and conditions of the mortgage loan, the file is sent to underwriting. TheĀ 30-45 day timeline starts after the file is sent to underwriting. The following things happen in that 45 days:

  1. Underwriter approves your loan
  2. Appraiser will evaluate the house
  3. Home inspector will give you a report on the condition of the house
  4. The seller/selling agent will cash your earnest money check
  5. Title will look into you and the seller to see if any judgements or liens exist.
  6. You will set up homeowners insurance
  7. A closing date will be set
  8. a Conditional approval will be issued and met
  9. Closing will be initiated
  10. Closing

 

Information/documentation you need to submit to your loan officer

  1. Most recent two years federal taxes.
  2. Most recent two years W2’s for all jobs worked
  3. Paystubs covering the most recent 30 day period
  4. Two months bank statements , any unusual (non payroll) deposits should be explained
  5. Most recent 401K statement
  6. Driver’s license
  7. Schedule C’s / K1′ Federal Taxes if self employed
  8. Any letter of explanations explaining derogatory credit or bankruptcies /foreclosures
  9. Foreclosure paperwork (If applicable)
  10. Bankruptcy Paperwork (If applicable)

Get Pre-approved for your next mortgage loan in the Green Bay, Wisconsin Area