Our Loan Process

The Step-by-Step Process for Your Home Loan or Refinance

You’ve never taken out a loan or refinanced before, or maybe you aren’t sure if the process is different at Georgetown Mortgage. To help you learn how home mortgages and refinances work here, take a look at our Loan Process Guide:

1. Your Application

First, we assign a personal loan originator to guide you each step of the way. After an in-depth interview with you, a loan quote is prepared. If you like the quote, you complete the online loan application. Your personal loan originator downloads it to our system and pulls your credit information. We review the findings to ensure we have an approvable loan.

2. Processing

Once you turn in the necessary documents, your file is sent to one of our experienced loan processors. They arrange for all the third-party verifications, organize your file and submit it to our Quality Control department. Once it’s approved, it goes to the underwriters for review.

3. Underwriting

We use in-house underwriters who each have an average of 15 years experience and maintain 24- to 48-hour turnaround times. They review the loan for completeness, order appraisals from our in-house panel of appraisers and check for compliance.

4. Closing

Once we have full approval, the loan processor orders closing documents from the attorneys and the Settlement Statement, which shows all the loan costs. After you sign the closing documents, the title company sends them to our funding department for review, and authorization is given to fund the loan. In most cases, it’s the same day as closing. Then you start paying off your loan or refinance.

Georgetown Mortgage Can Help You

If you want an individualized loan that’s heavily reviewed every step of the way, come to Georgetown Mortgage. We will give you the guidance you need to get the loan or refinance you need. Imagine the joy you will feel once you contact us today and are on your way to financial peace.