| Mortgage Loan Process |
| Kim Shuford 1st UCU Mortgage Services |
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| Kim Shuford Senior Loan Officer 469-247-9347 |
The following steps are simply an outline of the process. For more detailed
information, please contact me at info@kimshuford.com and I will be glad to answer
all of your questions.
Step 1 - Finding a Realtor
Although it is not necessary for you to have a Realtor to buy a home, I urge
you to do so. They are there to help and guide you as well. Please see the
links page for some local Realtors who will be glad to help you.
Step 2 - Finding a Loan Officer
We are here to help you with the financing on your new home. A good loan
officer can make a big impact on how your buying transaction goes. For
more information, please contact us.
Step 3 - Formal Loan Application
Here is where the paperwork process begins. You will need to gather as
much of the information listed at the bottom of this page as you can to
give us. We can take the loan application in person at a place of your
choosing to be convenient for you, we can take it over the phone and
fax for signatures, or we can email it. Please let us know what is more
convenient for you.
Step 4 - Pre-Qualification Letter
Generally by now this step has already been completed. If not, then it will
be at this time. This letter is usually put with the contract on your new
home to let the seller know that you are a qualified, serious buyer. Most
sellers will not accept a contract without a letter such as this.
Step 5 - Documentation
It is imperative that we are able to document all the information you
have given on your loan application, unless you qualified for a stated
program. Now is the time to get all the information to us that we ask
for. Sometimes this seems a little tedious, but it is needed and the faster
we can get this, the better chance you will have to close on time.
Step 6 - Contracting on Your New Home
If you have not already put a contract on a property, then we will wait
at this point until you find that perfect home!
Step 7 - Contract Acceptance
Even though you made an offer, they still have to accept it. This is where
your Realtor steps in by speaking on your behalf to the seller and their
Realtor. Once you have an accepted contract, your loan moves forward.
Step 8 - Appraisals, Inspections, Etc.
At this point, you are encouraged to get a home inspection done on your
property. Once again, your Realtor can help you with selecting a
reputable inspector. Once your inspection is completed, the appraisal on
your home will be ordered, along with the title work. The processing
part of your loan is also being completed at this point and then submitted
to an underwriter for final approval. Please expect a few more items
to be requested by the underwriter at this time.
Step 9 - Closing Dates
Every effort is made to close your loan on time, however, sometimes there
are issues that arise that may cause a delay. If there are, you will be informed
of these issues so there is no surprise and the seller of your property will
be informed as well. This is why it is extremely important that you get
all the documentation in as quickly as possible.
Step 10-Setting Up Your Utilities
Once you have been given a clear to close and the date is set, it is time for
you to set up your utilities and change your address on all your mail.
PLEASE DO NOT DO THIS UNTIL YOU ARE CLEARED TO CLOSE.
We will let you know when this occurs.
Step 11-Closing
Now you are ready to close on your new home! You will be given a date and
time to be at the title company who will have all your paperwork ready
for you. Get ready to sign, sign, sign!
Step 12-Taking Possession of Your New Home
Congratulations! Now the fun of moving begins! Please note that this can
sometimes be a few days after closing in order to give the seller time to
move out. So, be patient. Your Realtor will inform if there will be a delay
at this point before you close.
information, please contact me at info@kimshuford.com and I will be glad to answer
all of your questions.
Step 1 - Finding a Realtor
Although it is not necessary for you to have a Realtor to buy a home, I urge
you to do so. They are there to help and guide you as well. Please see the
links page for some local Realtors who will be glad to help you.
Step 2 - Finding a Loan Officer
We are here to help you with the financing on your new home. A good loan
officer can make a big impact on how your buying transaction goes. For
more information, please contact us.
Step 3 - Formal Loan Application
Here is where the paperwork process begins. You will need to gather as
much of the information listed at the bottom of this page as you can to
give us. We can take the loan application in person at a place of your
choosing to be convenient for you, we can take it over the phone and
fax for signatures, or we can email it. Please let us know what is more
convenient for you.
Step 4 - Pre-Qualification Letter
Generally by now this step has already been completed. If not, then it will
be at this time. This letter is usually put with the contract on your new
home to let the seller know that you are a qualified, serious buyer. Most
sellers will not accept a contract without a letter such as this.
Step 5 - Documentation
It is imperative that we are able to document all the information you
have given on your loan application, unless you qualified for a stated
program. Now is the time to get all the information to us that we ask
for. Sometimes this seems a little tedious, but it is needed and the faster
we can get this, the better chance you will have to close on time.
Step 6 - Contracting on Your New Home
If you have not already put a contract on a property, then we will wait
at this point until you find that perfect home!
Step 7 - Contract Acceptance
Even though you made an offer, they still have to accept it. This is where
your Realtor steps in by speaking on your behalf to the seller and their
Realtor. Once you have an accepted contract, your loan moves forward.
Step 8 - Appraisals, Inspections, Etc.
At this point, you are encouraged to get a home inspection done on your
property. Once again, your Realtor can help you with selecting a
reputable inspector. Once your inspection is completed, the appraisal on
your home will be ordered, along with the title work. The processing
part of your loan is also being completed at this point and then submitted
to an underwriter for final approval. Please expect a few more items
to be requested by the underwriter at this time.
Step 9 - Closing Dates
Every effort is made to close your loan on time, however, sometimes there
are issues that arise that may cause a delay. If there are, you will be informed
of these issues so there is no surprise and the seller of your property will
be informed as well. This is why it is extremely important that you get
all the documentation in as quickly as possible.
Step 10-Setting Up Your Utilities
Once you have been given a clear to close and the date is set, it is time for
you to set up your utilities and change your address on all your mail.
PLEASE DO NOT DO THIS UNTIL YOU ARE CLEARED TO CLOSE.
We will let you know when this occurs.
Step 11-Closing
Now you are ready to close on your new home! You will be given a date and
time to be at the title company who will have all your paperwork ready
for you. Get ready to sign, sign, sign!
Step 12-Taking Possession of Your New Home
Congratulations! Now the fun of moving begins! Please note that this can
sometimes be a few days after closing in order to give the seller time to
move out. So, be patient. Your Realtor will inform if there will be a delay
at this point before you close.
| There are no secrets to success. It is the result of preparation, hard work, learning from failure. ~General Colin Powell |
| Kim Shuford Contact me today! |
| A Complete Loan Application In order to make complete loan application, we will need the following from you as soon as possible: ~ Completed Loan Application, with signatures ~ Signed Disclosures ~ Copy of Driver's License and Social Security Card ~ Name, address, and phone numbers of employment (past two years), and contact name ~ Copy of pay check stubs for the last 2 months ~ Copy of W-2's for the last 2 years ~ Name and phone number of landlord, past 2 years ~ Copy of Child Support agreement, if applicable ~ Copy of all bank statements & 401K statements for 2 months ~ Any and all bankruptcy information, including discharge ~ Social Security Payment Award letters, if applicable ~ Disability Award letters, if applicable ********************************************************* The following only if requested: ~ 3 forms of alternative credit (utilities, phone, insurance, day care, etc.) ~ Need letter stating 12 months as customer, paid on time, and payment amount ********************************************************** If Self-Employed or Incorporated ~ Copy of corporate tax returns for last 2 years, dated and signed ~ Current Profit and Loss Statement *********************************************************** All documents listed above are needed as quickly as possible in order to meet your closing date schedule. |
People care the most about
what they helped create
themselves - If you don't
share the joy of creation,
don't be surprised at the
outcome.
~ Author Unknown
what they helped create
themselves - If you don't
share the joy of creation,
don't be surprised at the
outcome.
~ Author Unknown
| This site is property of Kim Shuford and should not be copied without express written permission. Website Administrator: Timothy Flacy tim@kimshuford.com |
469-247-9347 Main Contact Number
800-520-4597 Fax
info@kimshuford.com
THANK YOU SO MUCH! I can't believe it!! I am passing your number out everywhere!! ~T. McCarty
