Our Process | Metrolina Mortgage

Process

Our

We are confident that we will always get you to the closing table, why? That's because our Fairway Advantage Pre-Approval* means we underwrite the loan before you go under contract to ensure your loan will close!

Want to know more about our cash guarantee, closing guarantee, or Fairway Advantage Pre-Approval?

The Home Buying Process

Pre-Approval

First step in the homebuying process is the pre-approval application. Once the application is completed, you will meet with a Loan Officer , provide documents, and pull a credit report to find out how much home you qualify for.

***Pre-approval is based on a preliminary review of credit information provided to Fairway Independent Mortgage Corporation which has not been reviewed by Underwriting. Final loan approval is subject to a full Underwriting review of support documentation including, but not limited to, applicants’ creditworthiness, assets, and income information, and a satisfactory appraisal.

Home Search

With a pre-approval in hand, you and your Realtor will start looking at homes. Once you find a home you love, you, your Realtor, and your Loan Officer will look at the numbers to ensure that home fits your budget and submit a strong offer to the seller using either the Certified Pre-Approval or the Fairway Advantage Pre-Approval*.

Under Contract

Congratulations! The offer has been accepted by the seller and you are officially under contract. You will now get with your Loan Officer to review the numbers and finalize your mortgage application.

Disclosures

Once you have found the loan program for you and submitted the final application, you will be sent initial disclosures to review and sign. These numbers will be specific to the home you are under contract for and will review the terms and loan estimates.

Loan Approval

Next step is for our operations team to review your loan package and work with an underwriter for a loan approval.

Loan Conditions

Upon initial loan approval, the operations team will work with the underwriter for final approval. Our team will reach out to you if anything additional is needed to obtain the clear to close.

Clear to Close

Once you get the clear to close, that means our team is ready to prepare your closing package. Your Loan Officer will send the final closing disclosure and review all the numbers with you, so there are no surprises!

Loan Closing

The best day is closing day! The day you sign the final loan documents.

Get the keys to your home!

Congratulations! You are officially a homeowner!

Find out what you qualify for.

*Fairway Advantage pre-approval is based on a full review of the borrower’s creditworthiness and is contingent upon there being no material changes in the borrower's financial condition or creditworthiness at the time of final loan approval. Final loan approval is subject to the following conditions: (1) borrower has identified a suitable property, and a valid appraisal supports the proposed loan amount; (2) a valid title insurance binder has been issued; and (3) borrower selects a mortgage program and locks in an interest rate that will support the pre-approved monthly payment amount. Loan must close before the expiration date provided in the pre-approval. Offer not available on bond or USDA loans. Please note that submitting verifying documentation is not a requirement to receive an estimate of closing costs associated with a mortgage loan.