Home Loan Process

When you haven't gone through it before, the loan process can start to feel overwhelming at points. Be sure to reach out and ask questions - I know how to help every step of the way.

Complete application online at HadeedLending.com

I will review and discuss loan programs, payment and cash to close figures with Borrower(s)

I will request supporting documentation

File will be reviewed by underwriting and credit approval issued

Let us know when you have found a home that you would like to submit an offer on and we will provide a pre-approval letter

Earnest Money Agreement is provided to Lender

I lock in interest rate with Borrower(s)

I will request any needed documentation and order the appraisal, if applicable

I will update Borrower(s) and Realtor(s) of the following stages of the loan approval:

1. Sent to Processing
2. Sent to Underwriting
3. Credit Approval Issued
4. Appraisal Received
5. Final Approval Received
6. Closing Disclosure Issued
7. Loan Docs Sent to Escrow
8. Loan has Funded

I'm always here to help - even after your loan funds. Please do not hesitate to reach out with any questions.

Document Checklist:

• Most recent pay stubs covering 30 days for each borrower
• Two most recent W-2 forms for each borrower
• If you own rental properties, provide rental/lease agreements plus most recent personal Federal tax return including all schedules and K-1 s
• If you are self-employed, provide two most recent personal Federal tax returns including all schedules and K-1 's. If ownership is 25% or more, provide two most recent business Federal tax returns as well
• If you are retired, provide award letters and current 1099s of your retirement, pension and/or social security income
• Two most recent checking, savings, retirement and investment account statements including all pages
• If funds for the down payment and/or closing costs will be coming from a retirement account, provide terms of withdrawal
• Company name, phone number and email address of your homeowners insurance provider(s) on all properties owned
• Most recent mortgage and/or home equity line of credit statement(s) on all properties owned
• If you recently sold a property, provide the Final Settlement Statement for this transaction
• Copy of your Drivers License

Please note, all documents may not be applicable and our team will be reaching out with a personalized list after reviewing your application.

h2>Additional Tips for Making the Loan Process Easier:

• Keep copies of all documents related to the loan application and provide them to your loan officer in a timely manner
• Shop around for different lenders and compare loan offers before making a final decision
• Consider getting pre-approved for a loan to know how much you can afford to borrow before you start house hunting
• Read all loan documents carefully and ask questions if you don't understand something
• Stay in communication with your loan officer and respond promptly to any requests for additional information or documentation

Don't:

• Make large purchases on credit or take on any new debt during the loan process
• Apply for any new credit cards or loans, as this can negatively impact your credit score
• Close any existing credit accounts, as this can also negatively impact your credit score
• Make any major career changes, such as switching jobs or starting a new business, during the loan process
• Lie or misrepresent any information on your loan application, as this can lead to serious legal consequences.