Step 1

Applying for a home loan is easy with a 4Corners Homes preferred lender. This can be done online, on the phone, or in person. In most cases, you will be asked to provide information on things such as income, debt, assets, and liabilities.

Step 2

Our preferred lender will analyze the information that you have provided. He/she will pull your credit report, and will also provide you with a list of documents needed to support the loan approval.

Expect to provide these documents:

o Purchase Agreement for the home you are buying
o W-2's for the last two years
o Tax returns for last two years filed
o Last two statements for all bank/stock/retirement accounts that you list on your application
o Copy of Driver's License and Social Security Card

Step 3

The information provided is submitted to an automated underwriting system. Once this is complete, a loan prequalification can be issued based on the information that you provided.

This will give you a good idea as to whether there will be an approval on the loan once an Underwriter reviews the Loan Application.

Step 4

A package of disclosures, which detail the information of your loan, will be generated and provided to you. You will be asked to review these disclosures, sign them, and return them to your lender promptly.

Step 5

Your file will then be submitted for processing. A Mortgage Processor pulls reports and gathers information such as transcripts, property tax information, insurance information, etc., and prepares the file to go to an Underwriter for review.

The Underwriter critiques the file to determine eligibility for funding.

The processor then collects any additional information needed, such as an appraisal on the home, any additional conditions issued, etc.

The Underwriter will make a final determination on the file once all information has been provided.

Step 6

Your lender will submit for a Settlement Statement to be generated (this is often referred to as a HUD). Once received, your lender will review the Settlement Statement with you and discuss the funds needed to close.

Step 7

Closing day is one of the most momentous occasions in your life! At closing, you will meet your 4Corners closing coordinator, your Escrow Officer, and your preferred lender to officially become a 4Corners Homeowner! You will sign final documents, get your keys, and will leave a new homeowner!