There is nothing wrong about considering mortgage application. In fact, it is a lifesaver when you don’t have enough money to buy property at the moment or sometime soon in the future. Have you ever wondering though how the mortgage process goes? Knowing this will let you stay on top of the mortgage you will apply for and of the lender you choose it from. You will understand things more completely about Wells Fargo mortgage application. There are steps to the process. Let’s see how each step goes to understand it more to avoid unnecessary worry that you might have been feeling.
1. The Completion of Application
First things first, you will have to contact your home mortgage consultant to compare loan options. He/she will be the one to help you complete Wells Fargo mortgage application once you find the house to buy. If you are eligible for the loan, you will get personal email invitation sent to yourLoan Tracket. Read and upload necessary loan documents, then review the disclosure package. Provide your personal information too and there will be call from the home loan processor to proceed with your Wells Fargo mortgage application.
2. The Review of Finance/Property
The process will then continue with this step. Here, both the title search and appraisal will be ordered. You might or might not be asked to submit additional documents. Just submit them when you are asked to make the process go smoothly. Once everything is done, your information will be reviewed by home loan underwriter. Then, that marks the end of this step of Wells Fargo mortgage application. Well, of course, Wells Fargo application will still continue to the next step. This step does not end the entire process after all.
3. The Preparation for the Closing
Now that everything is underway, you will then have to prepare for the closing for the next process of Wells Fargo mortgage application. Here, in this step, you need to request homeowners insurance by contacting the insurance company. Then, the company will review the property title before they schedule the closing date. Make sure to review your final Closing Disclosure and the company will tell you the amount of money you need to pay in cashier’s check to finish this step of Wells Fargo mortgage application we have right here.
4. The Closing of Application Process
The last step of the process will involve around the Closing Package. You will get this package from the closing agent, of course. Once you do get the package, don’t forget to give it proper review. Then, you will need to sign the necessary documents for Wells Fargo mortgage. Lastly, you need to pay the closing costs with cashier’s check to end this entire process of Wells Fargo mortgage application. Did you get good picture of the application process? Then, you should be ready to apply for the mortgage for real this time to the Wells Fargo & Company to buy new home of your dream.