After The Mortgage Application
Your mortgage company will begin the work of verifying all
the information you've provided. This process can take anywhere
from one to four weeks, depending on the type of mortgage
you choose, whether you're buying a home outside your local
community, or a host of other factors.
Within three business days after your application, the mortgage
company must give you a good faith estimate of your closing
costs. You'll also get a statement that shows your estimated
monthly payment, the cost of your finance charges, and other
facts about your mortgage.
Stay in touch with your mortgage company to speed up the application
process. Some home buyers find the closing process to be one
of the most intimidating aspects of buying a home because it's
so unfamiliar. If so, ask your mortgage company what to expect
at your closing.
Once you receive your approval, and you're waiting to close
on the sale of the home, don't go on a shopping spree. The
mortgage lender may do a final check of your credit report
or bank accounts to make sure you're not assuming more debt
or spending your cash reserves. There are steps you can take
to move quickly if your loan is denied.
Apply today to
let Bancplus Home Mortgage Center help you get the great
financing you want
and deserve!
