[Riverton, 10/3/2016] – The Mortgage Partner Inc, a mortgage broker established in 1993, helps Utah customers take out mortgage loans through a simplified process. They understand how lengthy and intimidating the home loan process can get, so they devised a five-step process that helps clients make fully informed decisions and get the best possible rates.

Here is a step-by-step of their home loan process.

Contacting the company

Once a customer contacts The Mortgage Partner Inc, the company gathers information about the customer’s income, debts, and credit scores to determine how much the customer can borrow. They advise a pre-qualification, because different loan programs may have different values.

Application

The loan process begins when a customer submits their application. This involves document processing as well as a discussion of fees and down payments to determine. The customer receives a Loan Estimate — a breakdown of costs — within three days.

Processing

The third step is the actual processing of the loans. Processor will review the credit reports, review the appraisals, check for property issues, and verify the debts, payment histories, income, and assets.

Underwriting

In this step, the underwriter will determine whether the package submitted by the processor is an acceptable loan. If not, the customer must supply more documentation.

Closing

Finally, an unbiased, third-party escrow officer will prepare the closing documents, make sure that all paperwork has the appropriate signatures, notarize the signatures, and disperse the funds in accordance with the lender’s instructions. The escrow officer will also provide the customers a copy of all documents signed at the closing of the deal.

The Mortgage Partner Inc secures the best possible mortgage loan rates for their customers.

About The Mortgage Partner Inc

Established in 1993, The Mortgage Partner Inc is a mortgage broker with over 40 years of combined lending experience. The company works with multiple lenders and has access to numerous programs, allowing them to secure the best possible mortgage loan rates for their customers.

For the past 20 years, they have been serving Credit Unions and Credit union members in Weber, Salt Lake, and Utah counties. Credit Union member or not, however, they are eager to provide the same competent and efficient service.

Please visit https://www.mortgagepartner.com for more information.