The Loan Process

Stage 1 — Free Loan Consultation

During our initial contact with you we will gather information so that we can get you a pre-approval. It usually takes about fifteen minutes to collect the required information. Once we have determined what your goals are and got the information needed we can begin the pre-approval process. Within a few hours we go over your credit with you and help you understand what it means.

Stage 2 — Pre-Approval

By using your credit report and the information you gave us during our initial contact we are able to pre-approve you for a loan. We have over 40 plus lenders with hundreds of programs so in most cases we will have a couple of options for you. Our main objective is to help you reach all of your goals. After we have discussed your different options and have found the best loan for you we will then come to your home and go through it in person.

Stage 3 — We Meet With You

At this point your Thomas Family Mortgage loan officer will come to your home with a Good Faith Estimate and all related loan compliance documents. Your loan officer will go over in detail with you the loan and answer any questions you have. This also gives us the opportunity to collect any information that is needed to get your loan approved.

Stage 4 — Process your Loan

Your loan officer verifies all of the information that was given by you during the initial consultation. We order an appraisal to be done on your home, which is the only out of pocket expense to you. We get everything collected and verified and then we submit a complete loan file to the lender for approval.

Stage 5 — Acquiring Loan Approval

After we have sent your file to the lender an underwriter goes through it to make sure all guidelines have been met. If anything else is needed your loan officer will contact you for the additional information. The loan approval process usually takes 24-72 hours. After we have gotten approval we will set up a time to close your loan.

Stage 6 — Closing Your Loan

We close the loan when and where it is convenient for you. The majority of loans we close are done at the customer's home. If you are purchasing a home we usually close the loan at the realtor's office or at the registry of deeds. We also have a beautiful office with a private closing room if you would like to close it at our office. No matter where we close your loan your loan officer will be there to answer any questions you may have.

Stage 7 — Follow Up

This is probably the most important stage in our loan process. After your loan has closed we are still here to answer any questions you may have. We understand that you may need us again in the future and we want to ensure that we are your first choice. As a small local company we depend on our customers referrals and continued business. We do everything we can to make your loan process simple. We appreciate your continued patronage and we promise to give the same service to anyone you refer to us as we gave you.