For most people, buying a home is the largest investment they'll make. How they choose to finance that investment is an important decision. Who they trust to advise and guide them through the process will determine if the loan they end up with best meets their needs.
Watson Mortgage Corporation has lending relationships with many local, regional and national lenders, each one offering a wide range of home loan options. Buyers benefit from a wider range of loans choices, and are able to comparison shop from the convenience of a Watson Realty neighborhood location. Anyone can fill out a loan application, but helping borrowers choose a mortgage that will best fit their current situation requires an experienced professional. Our professional Loan Originators take pride in their accessibility to a wide variety of loan options. This enables them to find the best loan program to fit your specific needs and wants in a new home loan.
We're delighted to bring the loan options to you and present a thorough explanation of each program. Our mortgage professional have evening and weekend availability... when most other lenders are closed.
Some people prefer to complete their loan applications in the privacy of their own homes. You can easily complete your application online from any of our Loan Originator Websites. Others prefer to schedule appointments to meet with our loan officers, who are conveniently located in Watson Realty Offices.
A number of variables play into consideration of your qualification for a mortgage loan: credit, income, job stability, amount of down payment, cash reserves, the property, etc. A key element that promotes the efficiency of the loan application and approval process is preparation. Conversely, few elements will delay a mortgage loan approval process more than the lack of preparation. The following information must be provided at the time of the application to expedite your loan decision.
Please provide us with as much information as possible. Delays can result if the documentation has to be obtained from out-side sources. Complete information will allow your loan officer to pre-qualify you and help you decide on the loan program that best suits your financial needs.
Processing your loan application basically means verifying the information provided in your application. Clearly, the more documentation you give us, such as your pay stubs, W-2 statements, bank statements, etc, the more expedient we can be regarding your loan decision. After your loan package is received by your loan officer, he or she will run the data through our automated underwriting system. At this time you will have a pre-approval based on the information you supplied.
Most buyers want to close their home loan by a specific date. Our goal is to make sure that you hit that date. That's why it's so important that you provide, the less we have to rely on outside sources and organizations, and the timeliness of their responses. At this point, an appraisal of the subject property will be ordered. When the information is returned, it is analyzed in accordance with established lending guidelines. Watson Mortgage Corp. will keep you informed of the status of your loan application throughout the process.
As part of the process in approving your home loan, Watson Mortgage will submit your completed loan file to the underwriting department.Underwriting thoroughly reviews your application, with particular attention to the following key areas:
After you have received full approval for your home loan, you will receive written notification.
From time to time, conditions are placed on the approval of the loan. If that occurs, Watson Mortgage will notify you of the conditions and will help you determine how to resolve the issues. Additional information may be requested at this time.
Closing is the final step involved when obtaining your mortgage loan. After your loan is approved and all conditions are satisfied, closing documents are prepared for signing.
You will need to contact your Realtor or your settlement agent in advance to schedule an appointment where all necessary documents are signed, recorded and the home purchase is complete.