FAQs

Independent licensed mortgage brokers have had a significant positive impact on the lending industry. Today, the use of a professional mortgage broker is one of the key strategies used by sophisticated borrowers.

Looking for professional assistance with mortgage loans? If so, turn to the qualified team at Neighborhood Mortgage today!

A mortgage broker is a real estate financing professional who specializes in the origination of residential mortgage loans. Mortgage brokers normally pass the actual funding and servicing of loans on to wholesale lending sources.

A mortgage broker is also an independent contractor working with as many as 40 lenders at any one time, according to our experts. By combining professional expertise with direct access to hundreds of loan products, your broker provides the most efficient way to obtain financing tailored to your specific financial goals.

In the volatile home-lending market, mortgage brokers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the broker’s most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage broker will wade through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options.

Turn to Neighborhood Mortgage for expert assistance with mortgage loans.

There are many variables that can affect the outcome of your mortgage transaction. That’s why you need a mortgage broker to act as a liaison between the title and escrow company, real estate agent, lender, appraiser, credit agency, underwriters, processors, attorneys, and any other services that may affect your transaction. A mortgage broker also: 

• Discusses and explains financing program options 
• Informs you, in writing, of lock-in options 
• Explains all documents of the loan application 
• Explains all associated costs of the loan application 
• Explains the disbursement of all loan applications 
• Explains the loan process, from application to closing 
• Provides you with a good faith estimate of cost and fees 
• Communicate with you throughout the loan process on time 
• Coordinates the final closing of your transaction

Contact us for a free consultation. We prioritize helping you navigate and manage your mortgage loans.

Once you choose 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, we provide you with regular updates. You can also e-mail us with questions or new information. And if you want assistance, a Licensed Mortgage Advisor can answer questions for you is just a phone call away. Here's an overview of the loan application process.

STEP ONE: Apply Now! Getting started is easy Before you start shopping for your home, get pre-approved for a mortgage. This will allow you to find out how much house you can afford. You can complete the loan application through our website. If you've already chosen a property, the next step is to complete your loan application. To get started, choose an application. If you want to talk to Licensed Mortgage Advisor, you can call us at 360-671-8044 to answer any questions you may have. At the appropriate time we'll order a property appraisal for you. 

STEP TWO: Your Loan is Approved and Funded Your Real Estate Agent or the Seller will designate an Escrow/Title Company to handle the funding of your loan, along with many other factors which make your purchase go smoothly. We will coordinate with the escrow team and you'll sign the final papers at their office. Simple, Straightforward, cost-effective, and FAST!

The following information is usually required during the loan process:

• Your Social Security number 
• Current 30 days of pay stubs 
• Tax returns with W-2s for the past two years 
• Bank statements for the past two months 
• Investment account statements for the past two months 
• Retirement account statements for the past two months 
• Drivers License Purchase and Sale (if applicable) 
• Any divorce paperwork (if applicable) 
• If newly married a marriage certificate 
• Current rental company information or if a private party, 12 months of canceled checks 
• Proof of source of funds for down payment i.e., a bank statement, or a gift letter 
• Any bankruptcy paperwork (if applicable) or foreclosure or short sale paperwork (if applicable) 
• Mortgage account information (if you currently own real estate)
• Home insurance policy information 
• Home equity account information (if applicable)

To learn more about mortgage loans, get in touch with our team.

We recommend consulting the Loan Glossary in the About dropdown on our site to learn about specific mortgage terms. Let our team know how we can assist you with mortgage loans, lending, and more!