The Mortgage Process

Stage 1: Origination

Your Loan Officer is your primary point of contact throughout your mortgage loan transaction from origination to closing. They will review your home buying requirements and your financials with you and explain the different loan programs offered by BFSFCU. When you are ready to apply, your Loan Officer will assist you through the pre-qualification or loan application process and answer any questions along the way. In addition, they will request any additional documents that may be needed to facilitate the processing of your loan.

Schedule an Appointment

Stage 2: Processing

Your loan will be forwarded to a Loan Processor, who will be responsible for monitoring the receipt of additional documentation as well as verifying assets, employment and ordering the property appraisal. During this step in the process you will also confirm your loan program and lock in your interest rate. Once all documentation has been received, the Loan Processor will review and prepare your application for underwriting to determine loan approval.

Check Rates

Stage 3: Underwriting & Approval

Your loan application will be reviewed by a Loan Underwriter who will ensure that your application meets our lending guidelines and that the documentation provided is current and valid. You may be asked to provide additional information or documents after the initial review. Upon loan approval, your loan file will be sent to our closing department.

Stage 4: Closing

Your Loan Closer will work with your Settlement Agent/ Attorney to finalize the transaction and will prepare all your loan documents for closing. The Closer will prepare the final documentation and coordinate the funding of the loan.