The Loan Process
Loan Process.
Ready to apply?
Blissful Mortgages loan Process starts here. Submit a mortgage loan prequalification application online at our website.
Have more questions or need help with your vision? Submit a request for a mortgage consultation and let help you with your plans.
Once you have submitted a mortgage application, we’ll promptly connect with you to review/confirm all the information listed the loan application by phone.
Pre-Qual
Then, we’ll either immediately issue a pre-prequalification – Congrats! We’re sailing now or discuss next steps such as documentation needed from you. Then we order the 3rd party verifications, more research needed, etc.
We do the work up front that’s needed. So that when we issue you a pre-qualification letter you and your realtor can be assured that we have done everything in our power to solidify your qualifications. That way t you get to the closing table on time! Our goal is to get everyone who applies with us a home Blissfully.
Apply for a loan
Once we have issued pre-qualification, we’ll get your information entered into our customer portal equipped with both a smart phone app and an online portal. Need numbers changed on your pre-qualification in a hurry? Generate your own letter while you’re out viewing homes at any time!
Pre-Approval
Need pre-approval? Pre-approval with Blissful Mortgage means file is approved with your specific certified underwriter. We have multiple lenders ready to accept your file for underwriting even before you sign a purchase agreement.
Our cutting edge system keeps you connected with your real estate agent and every step of the home loan process. This way you’ll never be concerned about miscommunications delaying the process. You’ll always know the next step in the process. Including Documentation needed from you or other 3rdparties involved so that we meet expectations time after time.
The credit decision – final approval
Welcome to Blissful Mortgage!
We are honored by your decision to choose Blissful Mortgage. We work hard to originate and process the mortgage loan that will allow you to purchase your dream home and accomplish your life goals.
Here’s what you can expect from our team:
Honesty:
We will be the first ones to provide you with direct answers and information related to your mortgage loan. Keeping you informed at every step of the process to the extent of our knowledge. We understand that this is one of the most emotional processes that you will choose to work for in a lifetime because the outcome certainly decides the path for your future! We, the originating, and processing company Blissful Mortgage will commit to walk beside you and not give up on you whether this home purchase happens in 30 days or 3 years from now.
Efficiency:
Our goal is to work hard to push your file as far as we can every week to meet contractual deadlines. Because we juggle a desk full of clients at any given time, there may be times that we need information/documents from you, However we are not able to respond to you to discuss other items unrelated to our requests. We strive to always be approachable. Therefore you’re always welcome at any time during the process to request an appointment time with us to address your needs by phone. We will always do our best for you.
With that being said, here’s what we need you to understand about the process that is beyond our control:
The Loan Process Docs
Documents:
The government agencies and the government sponsored agencies make the rules for the mortgage loans in the United States. The underwriters that clear your loans for closing are certified by those government agencies. They make the decisions on approval of all the documents we collect from you and the documents collected from third parties involved in your loan process. Underwriters have a strict rule book that they must follow. This comes down from the top which are the investors that are lending the funds on loans that take 30 years to repay. They only have one chance during this process to require information about the collateral. (The home) and your ability to repay this loan is to ensure that they build a solid file that will be bought and sold as a product for years to come.
The Loan Process TimeLines/DeadLines
Timelines/Deadlines
Many people, we estimate 35-40 people are needed to close an average mortgage loan. Your closing depends on the efficiency of these 3rd parties meeting deadlines. This is your home inspector, appraiser, title company, surveyor, insurance company, homeowner’s association, underwriter and closing dept, etc. Everyone has turnaround times that must be considered. Blissful Mortgage will do our best to map out a plan to meet your closing deadline however your final loan closing/funding depends on all 3rd parties involved. Your lender is the company that will approve your home loan and wire the funds to the title company for your closing.
Funding
Please understand that at no point in the process prior to your loan funding (refinance) or the seller being paid off (purchase) is your loan 100% approved or guaranteed. There is no commitment to lend money at any time and at any point in the process the loan status may change. Any funds that you pay out during the process of this mortgage loan are always at risk of loss if the loan is not approved, not approved in a way that is acceptable to you or there is a default of the purchase contract which results in no closing.
Our Loan process
Prequalification
Documentation Requests
Prequalified by Loan Officer
House Hunt
Found My House
Loan Disclosures Issued
Appraisal Ordered
Pre-Approved By Underwriter
Shopping for homeowner’s insurance
New Survey order or approval of Seller’s existing survey
Loan Processing/Waiting
Appraisal Received
Desired Insurance Policy Secured
New Survey Received
All collected Items submitted for final approval by underwriter
Clear to Close! Final approval issued by underwriting
Verbal Verification of Employment Completed
Closing Docs Ordered
Loan Closed
Loan Funded – Keys to New Home Received!