Provide financial information including income and debts so I can determine how much of a home you could afford. I will then issue a letter stating how much you are pre-qualified for.
*A pre-qualification is not a formal application and may be subject to change depending on how accurate the income and debt information was that the applicant provided to Regency Mortgage.
Select a Loan Program
There are a number of loan programs available and trying to understand which program is best for you can be very complicated and confusing. I will help you understand the different loan programs that are available to you and help you decide what is best for your situation.
Whether you are looking at Conventional or Government programs, a fixed rate program or an ARM, I am here to help you. (See Loan Programs for a description of the different type of programs available.)
Complete the Loan Application
The Regency Mortgage approval process begins with you completing and submitting an application. This can be completed either securely on line or I will assist you in completing the application. At this time, you will be asked for a number of supporting documents. Once I have received your application and the supporting documentation, the file is given to our Set-up department. Loan Set-up will send you your complete application/disclosure package for signatures.
The following will be required on most loans:
- Your address for the previous two years / Name and address of employers and your position & income for previous two years / W-2s / Pay stubs for 30 days / Tax Returns / Bank Statements / Quarterly Statements (mutual funds, 401(k), IRA, etc.)
Processing / Underwriting of the Loan Application
The Regency Mortgage processing/underwriting department verifies the accuracy of the information contained in your application. In addition, the Loan Analysist will review your credit report; order an appraisal, title commitment, and other third-party information. Once processed, the Loan Analysist will examine the file to certify that it conforms to industry standards and that the appraisal, survey, title commitment and other documentation are acceptable.
Throughout the entire process, Regency Mortgage will do everything we can to approve your loan application. When your loan application is approved, the information will move to the closing process.