Encompass Lending Group Blog

When thinking about purchasing a Texas Home Loan there are certain steps you must take.

1)      Fill out the loan application. This can take place by calling your Texas Loan Office or sometimes online. You might be asked for recent pay stubs, W-2’s, and a credit report.

2)      Loan Processing. Once you have filled out the loan application it is forwarded on to the processer. Their job is to make sure no documentation is missing and may contact you to verify information.

3)      Underwriting. The application is then forwarded on to the underwriter who checks to see if you qualify for the loan you are applying for.

4)      Closing and Funding. When the loan is approved by the underwriter, it then goes to closing. Closing is the process where the lender's office speaks with the title company to get all the paperwork in order for settlement. The money is then made available for the loan by the bank or mortgage company.