fbpx

The DSLD Mortgage
Loan Process

Whether you’re a first-time homebuyer, looking to upgrade, or even considering downsizing, we’re here to help you every step of the way.

With the right guidance and a clear understanding of the mortgage process steps, your dream of owning a home can become a delightful reality.

Your Comprehensive Guide
To The Mortgage Loan Process

We understand how monumental buying a home is, which is why we want to simplify the mortgage loan process for you.

Each phase has its own loan process steps, documentation, and considerations. Here’s what you need to know:

Step 1: Getting Pre-Qualified

The first step in your journey to homeownership is to get pre-qualified. To get pre-qualified, you need to speak to one of our Loan Officers, who will ask some questions about your situation. Don’t worry; we won’t pull your credit report until we have your permission to do so. You can normally get pre-qualified for a loan within 24 hours. 

Once your application is reviewed, you’ll receive a pre-qualification letter. This invaluable document gives you an initial estimate of how much you may qualify to borrow, helping you set a realistic budget as you search for your new home.

Step 2: Finding Your Dream Home and Signing a Contract

Armed with your pre-qualification letter, you can start searching for a home that fits your financial parameters. Once you’ve found the perfect place, you’ll sign a purchase contract. Keep in mind, however, that being pre-qualified is not a guarantee of obtaining a loan; it’s conditional on several other factors.

Step 3: Submitting Required Documentation

To proceed with the loan application, you’ll need to submit essential documents for verification. This step generally includes providing your two most recent pay stubs, bank statements, and the last two years of W-2 forms. If you’re self-employed, you’ll need to submit your tax returns for the same period as well.  You’ll make your application, including submitting the necessary documents, via the simple and secure DSLD app.

Step 4: Loan Submission to Underwriting

Your application then makes its way to the underwriting department, where your Loan Officer ensures it meets all the necessary criteria. Should the underwriting team require additional information, a mortgage loan processor will contact you.

Step 5: Home Appraisal and Insurance Documentation

If your dream home is still under construction, this stage will be relevant as it nears completion. An official home appraisal will be conducted, and you’ll also be required to submit homeowners insurance documentation. Both of these measures are essential to assess the property’s value and protect your investment.

Step 6: Closing on the Loan

Once the underwriting department gives the green light, you’re all set for the final step: closing the loan. Our mortgage team will liaise with the title company to determine a closing date and time. During this final stage, you’ll sign the official documents, your loan will be funded, and you’ll finally become a proud homeowner.

Each of these mortgage process steps is crucial and involves its own set of considerations.

That’s why our Loan Officer will be in contact with you throughout the entire loan process. We aim to make the journey to homeownership as smooth as possible for you.

Begin Your Journey to Homeownership with DSLD Mortgage

Here at DSLD Mortgage, we’re eager to make the mortgage loan process straightforward and tailored to your needs.

We’re with you every step of the way to turn your dream home into an achievable reality.

Request a Free Loan Consultation

Check if you qualify for a mortgage by requesting a callback from one of our Loan Officers.

Name(Required)
This field is for validation purposes and should be left unchanged.

Request a Free Loan Consultation

Check if you qualify for a mortgage by requesting a callback from one of our Loan Officers.

Name(Required)
This field is for validation purposes and should be left unchanged.

family of 4 relaxing on a couch