At Cambria Mortgage, it is our goal to provide every customer with a positive mortgage experience. Our mortgage consultants will walk you through the following mortgage process:
Application
Your mortgage consultant will start by collecting information regarding your employment, income, assets and debts. Information will also be collected regarding the property you intend to finance and your credit history.
Pre-Approval Your mortgage consultant will review the information collected in your application, gather information on current loan programs available, and make recommendations on the most suitable loan program for your financial situation. Current rates, fees and down-payment options will be discussed at this time.
Processing
This step involves verifying much of the information previously collected. Your mortgage consultant will request asset and income documentation and verify employment. If any credit discrepancies appear on your credit history, your consultant will work with you to resolve the issues. An appraisal and title work will also be ordered on the subject property. Upon receipt, your mortgage consultant will examine these items to ensure the title, value and condition of the property are accurate.
Underwriting
Your consultant will submit a complete loan package to the underwriter. The underwriter will perform a detailed analysis of the package to determine if it meets all guidelines required for your loan program. If your loan is deemed acceptable, an “approved” status is given. Your mortgage consultant will contact you to address items requiring attention.
Closing
Once the loan is approved by the underwriter, it can be scheduled for closing. Your mortgage consultant will work with you and the title company to schedule a closing which is convenient for you. At closing, you will sign the final loan documents. Your mortgage consultant will discuss any questions or concerns you have prior to closing.
