A Step By Step Guide To Loan Approval

Helpful Documents include Tax Returns, Pay Stubs, Rent Receipts, Bank and Financial Account Numbers and Balances

  • Call to find out how much you are qualified to borrow.
  • PreQualifications are done over the phone or on the Internet in a few minutes.
  • Pre-Approvals are issued after income, employment and financial details are verified.
  • When you are pre-approved before you start looking for a home, it puts you in a stronger negotiating position with the seller.
  • The seller will know your loan is pre-approved and may accept a lower offer than from a buyer who has not been pre-approved.
  • You can also close faster when your loan is pre-approved.
  • Fixed Rate, Balloon Payment or ARM?  
  • If you plan to sell your home in a few years, you may want to consider an adjustable-rate or balloon loan.
  • If you plan to keep your home for a longer time, you may want to consider a fixed-rate loan.
  • We will help you find the best approach for your needs.

You can apply online or in person.  It’s fast and easy!  Call Today 419-764-9649

  • All Loan Decisions Made In House!  
  • All Loans Funded In House! 
  • You won’t have to wait for an answer from some distant bank. 
  • Most Loans Close in 10-30 Days!    

Based on your specific situation, additional documents or verifications may be required.

To improve your chances of getting a loan approval:

  • Be Prepared to provide accurate employment, income, and financial data.
  • Avoid moving money into your bank accounts unless it can be traced to an account you own.
  • Let us know if you are receiving money for down payment or closing costs from friends, family or other relatives.
  • Hold off applying for any other credit, including credit cards, personal loans, car loans once pre-approved
  • Other credit inquiries may lower your credit score and may have an adverse affect on your loan approval.
  • Do not go out of town around the closing date. If you do plan to be out of town when your loan is expected to close, you may sign a power of attorney, to authorize another individual to sign on your behalf.
  • Review the final loan documents for accuracy.
  • Make sure that the interest rate and loan terms are what you were promised.
  • Bring a drivers license or State ID to confirm identity.
  • Some lenders also require seeing your Social Security card.
  • Bring a cashiers check for your down payment and closing costs if these are required.
  • Personal checks are normally NOT accepted by closing agents or Title Companies.
  • Sign the loan documents.

Your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions, federal law requires that you have three days to review the documents before your loan transaction can close. Purchase transactions do not have a three-day rescission period.  If this seems like a lot of detail, don’t worry.  I provide expert help all along the way!

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