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4 Step Loan Approval

Once you select us to obtain your home loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.

Throughout the loan-application process, your Watson Mortgage Loan Originator will provide you with regular updates. And any time, you can also call or e-mail us with questions or new information.

 

The 4 Steps to Loan Approval

Step 1: Application

 

A) Pre-Qualification

Your Watson Mortgage Loan Originator will:

• Assist you in determining your qualifications

• Help you to select the right mortgage program

• Issue your official Pre-Qualification to assist with your contract negotiations

 

B) Finding a Home

Your Watson Realty REALTOR® will:

• Work with you to locate your perfect home

• Guide you through contract negotiations

• Assist in your contract finalization

 

C) Loan Application

Your Watson Mortgage Loan Originator will:

• Prepare your official Loan Application for signatures. Documents may be signed digitally through a secure online portal (eSign), face to face, or via mail.

• Collect and analyze your required initial income and asset documentation

• Submit your loan for processing

 

D) Federal and State Disclosure

Our Watson Mortgage Compliance Officer will:

• Prepare the complete Federal and State Disclosure documents applicable to your loan

• Notify you that your disclosure documents have been prepared and are awaiting your signature via eSign, face to face, or via mail.

 

Step 2: Processing

Your Watson Mortgage Loan Processor will:

 

A) Send you an email to obtain your consent to proceed (via eSign) and provide your link for online payment of the Appraisal & Credit Report fee.

 

B) Order your appraisal that will determine the value of your home, deliver a copy of the report to you upon completion, and request your acknowledgment of receipt.

 

C) Review your loan file in detail, and notify you of any additional documentation that may be required.

 

D) Order verification requests for items such as employment, rent, and benefits, etc.

 

E) Send you an email that your I.R.S. form 4506T, which is required by the I.R.S. to verify tax returns, is ready for you to eSign.

 

F) Submit your loan to underwriting for review and approval.

 

Step 3: Approval

Your Watson Mortgage Loan Underwriter will:

 

A) Review your loan and the documentation provided in detail to ensure that it is compliant with all Federal, State, and Agency guidelines.

 

B) Issue a Conditional Approval. Congratulations, your loan has been Approved!

 

C) Request and collect any additional documents required per the conditional approval.

 

D) Review your document submissions and issue your Final Loan Approval.

 

Step 4: Closing

Your Watson Mortgage Loan Closer will:

 

A) Prepare and then notify you that the Closing Disclosure is complete, which will provide you

with the final settlement figures, and total funds needed for closing. You must acknowledge

receipt of this document no less than 3 business days prior to closing.

 

B) Prepare and send the final loan closing documents to the Closing Attorney or Title Company for your signature.

 

Kristine Kennedy, Loan Originator NMLS #227275
Watson Mortgage Corp
6206 Atlantic Blvd. Suite 1, Jacksonville, FL  32211
Direct:  (904) 421-6969
kkennedy@watsonmortgagecorp.com
Copyright © 2017 Watson Mortgage Corp - NMLS #140780
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