Thank you for applying
Congratulations on taking the first step towards homeownership with Everwise!
Our team is reviewing your information and will reach out soon to explore personalized loan options with you. While you wait, our website offers calculators and guidance on navigating the home buying journey. You can also check the status of your application anytime by logging in here.
Here are the next steps:
Throughout this process, it's essential to stay in communication with your lender and promptly provide any requested documentation to keep the process moving smoothly.
1. Initial Review: The mortgage lender will review your application, credit report, and supporting documents to assess your eligibility and the amount you can borrow.
2. Documentation: You may be asked to provide additional documentation such as pay stubs, tax returns, bank statements, and proof of assets to verify your financial situation.
3. Prequalification: A prequalification letter is issued which allows you to shop for a house
4. Appraisal: Once you have an accepted offer, the lender will lock your rate and order an appraisal of the property to determine its market value. This is to ensure that the property's value supports the loan amount.
5. Underwriting: Your application and all supporting documentation will be reviewed by an underwriter. They will assess your financial situation, creditworthiness, and the property's appraisal.
6. Conditional Approval: You may receive a conditional approval, which outlines any additional requirements or conditions you need to meet before final approval.
7. Final Approval: Once you meet all the conditions, your mortgage application will receive final approval. Your loan is transferred to an Everwise Mortgage closer who will work with the title company to come up with your final figures.
8. Closing: You'll work with your realtor to schedule a closing date, where you'll sign all the necessary paperwork to finalize the mortgage. You'll also pay any closing costs and make a down payment if required.
Buying a home is a significant milestone, and we're committed to being your guide throughout the entire process. We look forward to partnering with you on your path to homeownership!
Have Questions?
Call: (800) 876-7014
Chat: Click the "Let's Chat" button to the right and select "Mortgage Live Agent" to be connected with a Mortgage Professional.
Subject to credit approval and membership eligibility.