Understanding The Mortgage Process

Okay, Here's the game plan!

When you choose Family First as your mortgage lender you get a team of highly qualified and experienced mortgage loan professionals that always work in your best interest. Take a second to walk through the 4 basic steps in the process.

STEP 1:
Your mortgage begins with a conversation. Meet our Mortgage Originators and schedule a time to sit down together and share goals and possibilities.  They will take your input and work with you to find the solutions that best fit your needs. They will need information about the following areas:

  • Credit, income, employment and assets
  • Short and long term home ownership goals
  • Payment comfort level and who will apply

Call our mortgage department at 585.586.8225.

STEP 2:
Complete a mortgage application for the Mortgage Processor to review.  The Mortgage Processor will:

  • Make sure everything is in place
  • Prepare your application packet
  • Obtain Tax Bills
  • Order a real estate appraisal on your property 
  • Order verifications
  • Prep the file for submission to Underwriting

STEP 3:
When the file is prepped and ready for underwriting it goes to our Mortgage Team Leader. Our Team Leader will:

1.   Prior To Commitment

  • Order additional documentation
  • Run your application through the automated underwriting system
  • Analyze your documentation including the appraisal
  • Issue your Commitment Letter.  - This is an important document. Please read it carefully.  

2.    After Commitment

  • Define all requirements to close the loan.
  • Instruct you and your attorney on closing procedures.
  • Close on your transaction.

STEP 4:
Once your loan is closed the file is brought to our Mortgage Servicer. He will handle all of your questions and requests while Family First services your mortgage loan.

Questions about a Family First Mortgage? Call us today.