Twitter | Facebook | Blog

Getting Started

Getting Started

Step-by-Step, We'll Get You Home

Take that first step toward a loan with Allen Tate Mortgage.

Determining how much you are qualified to borrow is the first step in the loan process with Allen Tate Mortgage. Before you start home shopping, complete our online loan application and Get Pre-qualified. This will help you estimate the amount you can borrow, based on your income and assets, and allow you to target your search to homes in this price range.

Once you have narrowed your search and found a home you’d like to buy, you are ready to move forward with your full mortgage application. This will require comprehensive financial details and documentation of income, employment and assets, as well as information on your credit history and activity, including explanations for any late payments, inquiries, etc., and will determine the amount that can be financed through a mortgage lender. To make your full mortgage application, select Apply Now and request your Allen Tate Mortgage Consultant to contact you.

What’s next?

Once you have met with your Allen Tate Mortgage Consultant to complete your full application and have provided complete documentation, the approval process begins.

Your Mortgage Consultant/Loan Office will prepare your loan application file to submit to the Processing Center. (This usually takes 3-5 days if all required documentation is in place.)

The Processing and Underwriting Center will complete the following steps (This takes a minimum of 15 business days.)

  • Review the initial loan package.
  • Order the appraisal.
  • Underwrite the loan.
  • Review the underwriting conditions.
  • Review the appraisal.
  • Order and receive any third-party verifications, such as employment, rent, etc.
  • Review and prepare the closing package.

Typically, an offer-to-purchase contract is written for a 30–day closing. In today’s market, 30 business days (possibly more) is a more realistic time frame from application date to closing date. Your Allen Tate Mortgage Consultant will keep you informed of the progress of your loan application.

Second LookCarolinas Market Update VideoLoan experts