Getting prequalified can help you understand how much you can borrow. You can typically get prequalified over the phone or by clicking Apply Now in Step 3.

It is highly recommended that you get prequalified before you start looking for a house. This will help you:

• Find out the maximum house you can buy, so you don't waste time looking for properties you cannot afford.
• Potentially hold a stronger position when you are negotiating with the seller.

To shop for a loan you will need to:

• Think about how long you plan to keep the loan. If you plan to sell the house in a few years, you may want to consider an adjustable loan. On the other hand, if you plan to keep the house for a longer time, you may want to look at fixed rate loans.
• Understand the relationship between rates and points. Points are considered to be prepaid interest. Each point is equal to one percent of the loan. For example, one point on a $150,000 loan is $1,500.The more points you pay, the lower the rate you can get.

We will begin the loan approval process once we receive your loan application. This involves verifying your:

• Credit History
• Employment History
• Assets including your bank accounts, stocks, mutual fund and retirement accounts
• Property Value

Based on your specific situation, additional documents or verifications may be required. To expedite your loan process please:

• Fill out the loan application completely.
• Respond promptly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date.
• Do not make any major purchases. Do not buy a car, furniture or another house until your loan is closed. This may have an adverse effect on your current application.
• Provide documentation as requested to verify all assets. If you are receiving money from friends, family or other relatives, please contact us. If you do plan to be out of town when your loan is expected to close, you may be able to sign a power of attorney to authorize another individual to sign on your behalf. Please contact your mortgage specialist to discuss power of attorney details and requirements.

After your loan is approved, you will be required to sign the final loan documents. Be prepared to:

• Check with your attorney to confirm the requirements for funds needed for closing. Typically this would be certified funds or a wire to your attorneys trust account.
• Review the final loan documents are accurate.
• Sign the loan documents
• On refinance and home equity loan transactions of primary residences, federal law requires that you have three business days to review the documents before your loan transaction can fund and record.