Loan Process.

Ready to live in the house that you deserve?

We think you are.

When it comes to your homebuying goals, choosing the right house is just part of the process. We must also make sure that you are financially fit and your monthly payment isn’t too big of a burden for your day-to-day life. Summit Loan Officers are here to keep you motivated and answer any questions you might have. Here is a glance at what a typical home loan process might look like.
  • Speak with a Loan Officer
  • Review credit report, financial and personal goals
  • Assessment of how much you qualify for
  • Prequalification letter is issued, contingent upon final underwriting approval
  • Find a Real Estate Agent partner you trust
  • Search for your new home
  • Negotiate purchase agreement
  • Meet with your Loan Officer
  • Appraisal fee is collected, after 3 days
  • Great time to ask any questions you may have
  • Finalize rate and loan program
  • Verify asset / income documents and employment
  • Finalize homeowners insurance
  • Order appraisal
  • Submit to underwriting
  • Underwriting reviews file and approves credit and collateral
  • Satisfy final approval conditions
  • Loan documents sent to title / escrow
  • Title / escrow company will provide you with the amount needed for closing – make sure to bring a cashier's check
  • Review and sign final documents
  • Loan is funded, home records
  • Receive your keys and celebrate in your new home!

  • Speak with a Loan Officer
  • Review credit report, financial and personal goals
  • Assessment of how much you qualify for
  • Prequalification letter is issued, contingent upon final underwriting approval

  • Find a Real Estate Agent partner you trust
  • Search for your new home
  • Negotiate purchase agreement

  • Meet with your Loan Officer
  • Appraisal fee is collected, after 3 days
  • Great time to ask any questions you may have

  • Finalize rate and loan program
  • Verify asset / income documents and employment
  • Finalize homeowners insurance
  • Order appraisal
  • Submit to underwriting

  • Underwriting reviews file and approves credit and collateral
  • Satisfy final approval conditions

  • Loan documents sent to title / escrow
  • Title / escrow company will provide you with the amount needed for closing – make sure to bring a cashier's check
  • Review and sign final documents
  • Loan is funded, home records

  • Receive your keys and celebrate in your new home!