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The Mortgage Process

With the assistance of your Mortgage Consultant, closing a loan with Real Estate Mortgage Network will be an efficient, pleasant and ultimately rewarding experience.

Borrower
  • Contacts Loan Officer for financing information
  • Gathers information needed for application
  • Starts looking for a new home
Loan Officer
  • Discusses qualifying, monthly payments and cash needed for closing
  • Explains various loan programs available and quotes interest rates
Processor
  • Communicates with Borrower on items necessary for loan closing
  • Prepares loan for full approval and ensures information received meets requirements
Underwriter
  • Renders final decision on loan
  • Requests additional documentation (if needed) and communicates to Processor
  • Works directly with Loan Officer and Processor to approve loan
Closer
  • Assembles package for closing day
  • Sends package to Closing Attorney’s office
Closing Attorney
  • Prepares Settlement Statement and e-mails it to the Processor and Loan Officer for review
  • Processor or Loan officer review with you the figures and cash for closing 24 hours prior to closing
  • Processor or Loan Officer e-mails Settlement Statement to all parties 24 hours prior to closing
Closing
  • Takes places at Escrow Agent’s or Attorney’s office
  • Bring a certified check to closing (payable to yourself) with a valid ID
  • Bring Homeowner’s Insurance with paid receipt for one year