Ever wonder how the mortgage loan process works? Here is a brief overview of what to expect. 


If you’re simply trying to figure out whether you can qualify for a mortgage then pre-qualification is generally the initial step of the mortgage process. Using credit, income, and asset information, 1st Advantage can make a determination as to which loan programs you are eligible for and how much you may be able to afford. The information provided is strictly for the borrower’s use and does not constitute loan approval.


The first stage of the approval and loan application process involves the completion of a residential loan application. Once completed, our mortgage specialists will request additional items to support information provided on the application. After all items are gathered, the application is then sent to underwriting for review.


This is the initial stage of your approval process. All information gathered is reviewed. The underwriter verifies that the applicant meets all of the criteria of the loan program. 


Once the underwriter has completed the analysis and determination of your ability to purchase a home, an approval letter is issued.


The processing stage is where the items provided with the loan application are verified. Our loan processors will verify employment, review bank statements, review credit history, and fulfill any conditions the underwriter needs to clear the loan for closing.


Closing is typically held at the title company where they confirm that all the funds have arrived and all conditions to the closing and the transfer of the title have been met. Once conditions have been met, you will receive the keys to your new home!  

Our friendly mortgage professionals are here to help. Contact Alicia Bowen, Karla Davis, Jessica DiStefano or Marie C. Bautista at 757-877-2444.
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  • Karla Davis
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  • Marie C. Bautista Mortgage Specialist