Jet Lending Group, Inc
Mortgage Solutions You Can Rely On
1
Pre-approval: find out how much you can borrow
A pre-approval letter is a statement from a lender that they are
tentatively willing to lend money to you, up to a certain loan amount. A pre-approval letter is based on
assumptions and it is not a guaranteed loan offer. But, it lets the seller know that you are likely to be
able to get financing. Sellers frequently require a pre-approval letter before accepting your offer on a
house. To obtain one, you’ll need to provide your credit report, income, asset, liability documents.
2
Finding the right home
Begin the home searching process by working a reliable realtor who
understands your needs and the local market. Make a well-considered offer and negotiate the terms with the
seller. The contract is considered final when both parties sign the written offer. Once the contract is
finalized, pay the earnest money deposit and conduct home inspections as outlined in your contract.
3
Submit a loan application
Consult with your loan officer to determine the loan program that works best for you and your family. Complete the loan application accurately, and submit it with required documents.
Apply online
4
Underwriting
The lender will review your information, conduct a credit check, perform applicable verification, before making an underwriting decision. Collaborate with your loan officer and processor in this stage, such as:
- Choosing a title company to start the title search
- Ordering an appraisal through approved vendor
- Shopping for home insurance
- Providing additional documents requested by the underwriter
5
Final approval
Once all the underwriting requirement are satisfied, your loan is clear to
close. Schedule a time with the title/settlement company to sign the closing documents.
6
Close your loan
Review the final Closing Disclosure, wire funds, including the down payment
and closing costs, to the settlement company, and sign the closing documents on the schedule time.
Congratulations! Enjoy your sweet home.