Typical Mortgage Process
Following is an example of what you can expect through each phase of the Mortgage Loan process:
Let’s get started
- You contact Qualstar’s Real Estate Lending Department for pre-approval. You can either contact them us phone at 1-800-848-0018, or fill out our online Mortgage Application.
- Once your application is received, a Real Estate Lending representative will contact you to set up an appointment for an application and credit review. (See the Mortgage Loan Checklist for a list of required items to bring with you to the appointment).
- Once the Real Estate Loan representative gives you a credit approval, you can then choose a realtor.
- You and the realtor will then select and make an offer on a home.
Paperwork and documents
- You make the required deposit with Qualstar Real Estate Lending for the Application Review.
- Qualstar Real Estate Lending orders a credit report, appraisal, verifications, title, and other required documents.
- Qualstar Real Estate Lending reviews returned documents, including appraisal and title report.
- Qualstar Real Estate Lending contacts you (or your realtor) for additional information as needed, including verification showing property work orders are complete.
You’re almost done
- Qualstar’s Real Estate Loan representative submits the full loan package to an underwriter for final approval.
- Qualstar Real Estate Lending requests any further information required for approval.
- Closing documents are prepared and delivered to the Escrow company.
The home stretch
- The Escrow Company calls you to schedule an appointment for signing and notifies you of the final dollar amount to bring to closing.
- You sign the closing papers and deposit the funds.
- The Escrow Company delivers the deed of trust to the county to be recorded.
- You get the keys to your new home!