Frequently Asked Questions
Processing:
1. How long will it take before I know if I am approved?
A-credit approval is usually given within 3 days of application. Under special circumstances the time it takes for an approval is directly dependent on how quickly requested paperwork is brought into the office.
2. Do you need originals?
A-We only want copies of the papers that are requested.
3. Why can't you tell me how my file looks?
A-In most cases giving an assessment over the phone is misinterpreted to be an actual approval. Our office works hard to not mislead any of our customers in any way.
Closing:
1. Does my spouse need to be at closing even if he/she is not on the loan?
Yes. Your spouse must endorse the Mortgage. This is simply to acknowledge that there is a lien on the property and does not obligate the spouse in any way, financial or otherwise.
2. Do I have to obtain a homeowner's insurance policy on my own before closing?
Yes. We cannot release a closing package without proof of insurance. We will be happy to refer you to an insurance agent, however, you must contact their office and sign their application for insurance before they will release coverage information to our office.
3. When will I know exactly how much money to bring to closing?
Typically, in the morning on the day of closing. Closing funds must be in the form of a certified check, so please allow yourself enough time to stop by your bank before closing.
4. Do I need to bring anything else to the closing?
A-Driver's License and Social Security cards for each borrower. Our office will contact you if any other items will be required.
5. How long will my closing take?
A-Usually, 45 minutes to 1 hour.
