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The Mortgage Journey

The Mortgage Journey

A Guided Approach

At MiMutual Mortgage we have worked with thousands of homebuyers and homeowners across the nation and understand that the mortgage process can feel overwhelming. We know that every borrower has a unique story and that's why a local experienced Mortgage Loan Officer will work with you, at your preferred pace, answering any questions as they arise and tailoring a loan solution to meet your individual needs.

Our Process

 
 

GET IN TOUCH

Locate a local loan officer and secure the foundations of your mortgage journey. You and your Loan Officer, will assess your credit-worthiness, determine goals, affirm expectations and start tailoring loan options.

 

Apply

You've defined your remortgage goals or have received the exciting news that your offer has been accepted on your new home. Now it's time to submit the full application and lock in the interest rate. The purpose of the full mortgage application is to gather as much information as possible up front allowing us to glide through the process.

 

SUBMIT YOUR DOCUMENTS

You'll want to provide the documents requested by your Loan Officer as quickly as you're able to. That way, we can keep your mortgage moving in the right direction. Your Loan Officer and Loan Coordinator will provide you with a customized list of documents to work from and are available to answer any questions. Our Zoom Loan App provides you with a secure portal to provide your documentation and keeps you up to date with loan alerts and instant messaging.

 
 

APPRAISAL

If applicable, your Loan Officer will order an appraisal which will determine the property's market value. In some circumstances, additional inspections will be required.

 

UNDERWRITING

At this step, the Loan Officer has submitted your documents to the Underwriter. Every loan is a snap shot in time and depending on your situation, you may be asked for additional information or clarification of the information you've provided. This is a normal part of the process and is not a cause for concern.

 

CLEAR TO CLOSE

Once all conditions have been taken care of, a final review is completed by an underwriter and you are now ready to schedule your closing.

 

CLOSING

A few days before your closing, we work alongside the title company to prepare your closing documents. These will indicate the final amounts to be paid at closing and is a summary of everything we've worked towards during your mortgage journey.

Closing a House
 

CONGRATULATIONS

Congratulations on your new home or mortgage refinance.
Your first mortgage payment will be due on the first of the month, a full month after your closing. For instance, if you close on January 11th, your first payment will be due on March 1st.

 

 

 

 

*The Mortgage Journey is only a guideline. Please follow any instructions given to you by your Loan Officer throughout the mortgage approval process.

MTG APP CHECKLIST

Here are some of the items you should gather for your pre-approval. You are not required to have all the documents on hand to submit your request for pre-approval and your mortgage advisor will guide you on what items are needed based on your circumstances.

 

  •  IDENTIFICATION
    You will need a U.S. government-issued form of ID, usually a State-issued Driver’s License.
  •  PAY STUBS
    You should have your most recent pay stubs or other earned income documentation for the last 30 days.
  •  BANK STATEMENTS
    The lender will need most recent two months of official bank statements, which include the account number(s) and any blank pages.
  •  FEDERAL TAX RETURNS AND W2’S/1099’S
    You may be asked to provide your tax filings and W2’s /1099’s for the last two years for all forms of income you received (earned income, self-employment, etc.)
  •  RETIREMENT BASED INCOME
    If applicable, provide income documentation for any retirement pensions, annuities or Social Security.
  •  DISABILITY BASED INCOME
    If applicable, also include proof of income from worker’s compensation, State Disability, Social Security Disability or private settlement.

 

You won’t need to supply a credit report. With your authorization, we will pull your credit report, free of charge.

TALK TO AN EXPERT

GET IN TOUCH