BW Home Loans | Conventional, FHA, VA and Jumbo Loans

Loan Process

The first step in the loan process is completing the loan application and providing your financial information to get pre-approved. The loan application will take you approximately 10-15 minutes to complete and can be done online or over the phone. Once the application is completed you will be asked for financial documents such as w-2's, paystubs, bank statements and tax returns if you are self-employed.

Once your financial documents are received the lender will review them in detail along with your mortgage application and credit report. During this review your information will be analyzed to determine the best possible loan program you may qualify for. This is usually done very quickly and reviewed on the same day as the documents are received in many cases.

Once the review of your application, credit report and financial documents has been completed we will contact you to go over your pre-approval. This will let you know how much you qualify for along with payment info, how much down is needed as well as a review of all costs. This way you will have confidence to start looking for a property and submit an offer.

If this is a purchase transaction we will send you and your realtor a copy of the pre-approval letter and your search begins. You will work to find the perfect home and once you find the perfect home and get an accepted offer we are off to the races. We will then order the appraisal if needed and work to get your loan clear to close!

Once your loan is clear to close you will be ready to sign the closing documents and take possession of your new home! This is usually done at the title companies office that is handling the transaction. The closing usually takes approximately 20 minutes and at the end you will get the keys to your new home and take possession.

*All loans subject to underwriter review and approval, other conditions will apply*