Mortgage Process

When you come in, a Loan Officer will take you through a short interview to collect all your relevant financial information and explain the process and products to you. Once this is done and you make your application, you can get pre-approved within 24 hours. As soon as you find your desired home, we will then give you the final approval so you can start enjoying your home. What this means is that our service gives you the easiest access to loans that you are likely to find on the market.

Our process is very simple – we take your loan application, and then we process, underwrite, and approve, after which we close it. As a company committed to setting a higher standard for each of our customers, we aim to provide a positive experience every time. Whether you are a first time buyer or not, and regardless of what type of home you want to own, we work to make our mortgages turn your home ownership dream into reality.

This is not an offer for extension of credit nor a commitment to lend and is subject to change. Not all applicants will qualify.

CLM MORTGAGE LOAN PROCESS

The application is run by the loan officer

It’s all about filling out a form called the 1003, which has the big picture stuff you’d expect: name, address, property, value, etc.

Configuring that application and making good decisions

Together with the Loan Officer you will decide which type of loan is right for you, and as it impacts your deposit amount and your monthly payment, we make sure our CLM Loan Officers are experts.

MORTGAGE CALCULATOR

Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.

GET STARTED

CLM Creates A Needs List

This is a list of the things CLM needs from you to make the mortgage happen. They include bank statements, pay-stubs, and W-2s. Ideally, these are uploaded through the very secure customer portal, and sometimes those documents can be scanned and sent via email to the loan officer instead.

Other Team Members Participate

The loan officer gathers the documents on the needs list, and the forms you completed and gives them to the Processor. The Processors are like loan detectives, and it's their job to look through all the documentation line by line, and make sure it is completely accurate.

The Underwriting Phase

This is where the Underwriters go through all the information provided and check everything against the underwriting loan guidelines. So at CLM, everything is triple checked to make sure we are getting our clients the best deal we can.

The Closing Team

The closing team now originates the closing package. All the documentation has been checked all funds have been sourced, and the loan has been underwritten according to the guidelines. The closing package you receive contains all the documentation you need to purchase your home.

The Funds Are Made Available To The Client

The funds are made available to the client, and at the end of this step the loan is closed and signed, finished and funded, and the purchase of the property can take place.