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We take great pride in making your mortgage process as smooth and easy as possible. At the same time, if you’re trying to buy a new home or refinance, you know it’s not as easy as, say, ordering ice cream. There’s a lot that goes into financing a home.

Home financing involves what’s probably one of the biggest transactions you’ll make in your lifetime, and it can definitely be a bit complex at times. Not to worry, though! We can take a lesson from the Boy Scouts: Things are always easier if you’re prepared.

If you’re looking for a mortgage, one of the first conversations you’ll probably have early in the process is with a Home Loan Expert. Here are five key questions to ask so that you can be as ready as possible to move forward.

What Can I Expect?

You should first get an overview from your mortgage lender’s Home Loan Expert on how the whole process works. When you’re looking to get a mortgage, many of the elements of the process are the same:

  • While speaking with the Home Loan Expert, you’ll go over your goals for the mortgage, whether you’re looking to buy a new home or lower your current mortgage payment.
  • Your credit is pulled to see what you qualify for.
  • We gather documentation on your income and assets.
  • The loan is underwritten. In this step, your income and asset documentation is verified. We also have an appraiser look at the current value of the home.
  • Your loan closing takes place. This is where we cross the T’s, dot the I’s and sign the paperwork.

We even have a short video going over how all this works. However, keep in mind that everyone’s mortgage process is unique, so you should make sure to speak with your Home Loan Expert to go over what to expect ahead of time.

What Paperwork Do I Need?

Next, you should go over what documentation you’ll need to provide to move the process forward. When you start the paperwork for a mortgage, lenders are typically going to ask for the following from you:

  • Two years of W-2s
  • Two recent pay stubs
  • Two recent bank statements

It’s also extremely helpful to have tax returns available, particularly if you’re self-employed.

These are just guidelines, though, as there may be specific documentation that’s necessary for your specific loan. For example, VA loans require a certificate of eligibility from the VA. Ask your Home Loan Expert as soon as possible what documentation will be required so that you can make sure you have everything you need.

When Will I Close?

We pride ourselves on the efficiency of our process and try to get you closed as quickly as is humanly (and legally) possible. That said, depending on the loan program, different requirements and appraiser schedules can slow things down just a bit.

Ask your Home Loan Expert about what they think is a reasonable timeframe to schedule your closing so that we can set up an appointment that works for you.

How Often Will I Get Updates?

As mentioned above, the mortgage process isn’t like ordering ice cream – it takes weeks, not minutes.

Even if you turn in all your paperwork in a timely manner, there are a lot of moving parts to the process. There’s the appraisal, setting up title insurance and lots of other details to take care of.

It can take time, but the process is a little smoother with effective communication. Ask your Home Loan Expert how often you can expect updates as the process moves forward.

How Can I Avoid Delays?

With a transaction as big as a mortgage, there are certain things you want to avoid doing.

Common mistakes include applying for other financing (such as for a new car) at the same time you’re trying to buy a house. This can drop your credit score. Additionally, any large deposits you make have to be sourced, which can cause issues at times.

The best way to handle this is to ask your Home Loan Expert before making any big purchases or changes. They’ll be able to guide you in the direction that makes sense for your loan and situation.

Now that you know what to talk about, perhaps you’re ready to get started. You can get going online or call (888) 728-4702.

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This Post Has 6 Comments

  1. I am currently working with Derek Tinkle. So far he has been very helpful and has answered any of my questions very quickly and explains things to me in a way I can understand. I have not found the right home so far, but I have a friend who worked with Derek at quicken and was very happy with the company and Derek himself. She now lives in her own home and is doing great. I hope I can say the same in a few months. So far no complaints. Derek also set me up with a credit expert who got my credit score up in only a weeks time! She was great as well her name was Tina Tuzzolino. Thanks so far quicken. I will post again when I am living in my new home!

    1. Hi Sarah:

      I’m glad to hear you’re having a great experience. I’m going to pass your kind words along to Derek and Tina. Don’t hesitate to reach out if you have any questions along the way, but we can’t wait to see you get the keys to your new home!

      Thanks,
      Kevin Graham

  2. QUICKEN HOMES LOANS ARE SCAM ARTISTS THEY JUST TAKE YOUR MONEY
    THEY DON’T FOLLOW PROCEEDURE THERE CARL ARE NOT TRAINED GO SOMEWHERE ELSE OR BE SORRY YOU LOSE YOUR DEPOSIT

    1. Hi Terry:

      I’m sorry to hear you’ve had a poor experience with us. I’m going to forward your feedback to our Client Relations team who will research your situation. We’re going to see what we can do to get this turned around for you. Thanks for reaching out!

      Kevin Graham

    1. Hi Bonnie:

      It’s impossible to give you an interest rate investment in the comments section without knowing more information. Your interest rate is based on things like your income, assets, credit and property type in addition to the amount of equity you have. The best way to look at your refinancing options is through Rocket Mortgage. You can get a personalized loan solution based on your situation. If you prefer to call in, we have Home Loan Experts ready to talk to you at 888-728-4702. They will be off tomorrow for Labor Day.

      Have a great weekend,
      Kevin Graham

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