[MORTGAGE] Mortgage Loans {Home Loans} Rancho Cucamonga Loan Officer


Hey this is Chris Trapani the Mortgage Pro
in this video I’m going to give you 9 steps through the loan process from beginning to
funding and recording and becoming a homeowner. You know people want to know what it the loan
and application process in order to buy a home, well: Step number 1
You have 2 options here 1 – sit down with me – we’ll fill out the
application together and I’ll figure our what documentation you need or
you have another option 2 – you can always go to www.ChrisTheMortgagePro.com
click on apply for a loan fill out the application takes you less than 10 minutes and we can
start from there either way we start with an application from there I discern what kind
of documentation we need First of all we’re going to run the credit
sometimes the documentation is reflected on what I see on the credit report
I’m going to need in most cases I’m going to need 2 years W2’s 2 years taxes if you’ve
had a bankruptcy I’m going to ask for Bankruptcy papers there’s a lot of little things we’ll
need we obviously need to show where is the money coming from for the down payment, I
need 2 months bank statements all pages even if it says this page intentionally left blank
they don;t know it says that. I need that page too. So we’re going to determine what documentation
you need and we’re going to start there. Step number 2 – We put all of the documentation
together I submit it to my processing department we order title open up escrow we figure out
what we need the processors job is to go through all the documents go through the application
and say we also need these papers. Very common step. In the meantime you’re going to sign disclosures
they can electronically be signed or you can sign them by hand that’s going to be up to
you. Step number 3 – We have to order the appraisal. We order the appraisal through and what’s
called an appraisal management company. We don’t pick up the phone and call Harry
the appraiser. We have to legally order it through an Appraisal
Management company. and what happens is they randomly pick an
appraiser in the area. Step number 4 – We’re going to take all the
documentation we’re going to take the escrow information from the escrow company the title
information from the title company we’re going to take the appraisal now that we have it
and all the documentation that we’ve received from you we’re going to put it all together
and we’re going to submit it to the underwriter. The Underwriter is going to approve the file
by checking every single item there it could be a stack of paper this thick. We do it electronically now so it’s really
not paper any more. Step 5 – The underwriter approves the file. They approve the file but they’re going to
ask for hey prove this to me, I need this piece of paper, I won’t feel comfortable till
I see this. Very common thats what happens on every single
loan Step number 6
We get all of those conditions that the underwriter has asked for and what we do then is we order
the CD it’s called the Closing Disclosure. You sign the closing disclosure and legally
you’re not allowed to sign the documents for 3 more days. Step number 7
You’ve signed the CD, we’re ready to sign the docs. Now you can often go to the escrow company
and have a notary sign you there, sometimes we can send the notary right to your house
or your place of business or you can meet at a local restaurant or Starbucks. Step number 8 All those documents go back to the the company. The underwriter checks them off, the escrow
company the title company they all work together going to make sure everything fits exactly
like it should and then we Fund the loan. The last step Step Number 9 – Recording the loan The loan
may fund but until it’s recorded with the local county the county once it’s recorded
says the house is yours you have officially Fired Your Landlord – You’ve become a homeowner.

9 comments on “[MORTGAGE] Mortgage Loans {Home Loans} Rancho Cucamonga Loan Officer”

  1. Fire Your Landlord says:

    In this video I explain all of the steps and the process of obtaining a home loan.

  2. brandon wilcox says:

    Great video

  3. jamestowwn says:

    Thanks for this video Chris! I can remember during the period of securing our loan, my wife and I were so nervous and confused about what was going on and you were great in keeping it clear what was happening through every step of the process. This video is a great way to come back and re-assure yourself where along in the process you currently sit and what to still expect along the way.

  4. Jean Wu says:

    Love the video! Very informative!

  5. Pasquale Murena says:

    Very well explained.

  6. Michael Siano says:

    love it chris…my credit jumped 18 points this weekend….im doing exactly what you said and its working..ill be youe client soon enough! i dont trust anyone else.

  7. Gamer Gabriel by Gabriel Rangel says:

    Thank you for helping my family and I on our lending needs:)

  8. Realtor Madison Jones says:

    Chris rockin it as always, if you need a loan he is the top professional to go to!

  9. Susan Trapani says:

    Now I get it!

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