With Smith Broady & Associates our simple five step process ensures your mortgage documentation is handled in a timely manner and that you are informed of your status at each step of the way in the process.
Step 1 - Loan Prequalification
Click on the form below to complete the quick and simple Smith Broady & Associates Pre-Approval form. The form is available as an Adobe PDF document. If you do not have the Adobe PDF reader installed on your computer please see the link provided here. Adobe PDF Reader Once you have completed the form please fax the form to our office at fax#812-941-0952. We will contact you within 48 hours.
Step 2 - Mortgage Loan Application
After you sign a sales contract for your new home, you’ll complete a loan application with your Smith Broady & Associates Loan Officer. Your Smith Broady & Associates Loan Officer will order an appraisal for your new home, and may collect copies of the following documentation:
- Complete tax returns (most recent 2 years)
- W-2 forms (most recent 2)
- Pay stubs (most recent 2)
- Copy of purchase contract for new home (or mortgage statements for refinance)
- Bank and asset statements (most recent 3 months)
- Copy of your driver’s license
- Application fee
- Bankruptcy statement & divorce decree (if applicable)
You’ll choose your loan program and lock your interest rate. Interest rates can be locked for up to 90 days – and, in some cases, even 2 years!
Step 3 - Mortgage Underwriting
After applying for your loan, your Smith Broady & Associates Loan Officer will ensure that your materials are in order. The underwriter will evaluate your loan to determine any risk involved for the lender, your creditworthiness, and the quality of the property itself.
Step 4 - Final Conditions
Your loan officer will contact you for any additional documentation required by the lender and inform you of the details of your closing such as the closing time, location and and closing costs.
Step 5 - Closing
The seller of your new home will select a Title Company for your closing location. Be on time to your closing. Bring your driver’s license, and a cashier’s check made out to yourself for the down payment & closing costs. You may wish to hire a real estate attorney to represent you at your closing. Closings usually take 45-90 minutes.
Afterwards, your Smith Broady & Associates loan officer will be in touch to check-in on your new home loan!
