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Loan Process

RoundPoint Mortgage Company walks you through the loan process as listed below. Our experienced mortgage professionals make it easy.

1. Get your documents & finances in order.

Credit Report
You should start with reviewing your credit report. Your credit report will be used by your prospective lender as a measure of how you manage your finances. Good credit gets you the best rates and terms available in the marketplace. Many people are surprised at the content of their credit report because errors in reporting are common. Now is the time to clean them up. Link to Free Credit Report service

Loan Documentation
The loan process includes gathering and providing to your lender certain documents to verify necessary qualification information. You may be asked to provide the following documents to obtain your loan:

Income/Assets:

  • Copy of two consecutive recent pay stubs.
  • Last two years W2’s.
  • Last two years of tax returns if you are self employed or have rental income.
  • Rental agreements if income not reflected on tax returns.
  • Verification of any other sources of income or assets.
  • Last two months asset statements from bank accounts, IRA accounts, 401K statements, or stock accounts.

If Refinancing:

  • Copy of your current mortgage statement.
  • Copy of your homeowner’s insurance policy.

2. If you are purchasing a home, determine how much you can borrow and get pre-approved through RoundPoint Mortgage Company.

Before you go shopping for the new home of your dreams, use our payment and affordability calculators. These effective tools will help you get a good idea of how much house you can afford to buy. We can give you a no obligation quick and easy estimation of what you can borrow and it is a helpful and painless first step. With a pre-approval, a lender will verify your income, credit and debts. While you may not have identified a property yet, sellers will consider an offer more seriously when they know that you are PRE-APPROVED by RoundPoint Mortgage Company.

3. Work with our loan officers to find the best mortgage for you.

Your loan officer will help you find the mortgage that fits you best as there are a lot of factors to be considered. To name just a few, you should consider:

  • How long you plan to keep the loan.
  • Would a fixed or adjustable rate mortgage be best for you?
  • What costs are involved in obtaining a new loan?
  • When should you lock in your rate?

Based on your needs and situation, your loan officer will show you which mortgage products may work best for you. During the whole process, we are there for you to answer your questions and to lend our experience to help you make the right decision. We will review your loan application and supporting materials with you to make sure that your loan package is complete and ready for approval.

4. Close your loan.

As your closing date nears, RoundPoint Mortgage Company will keep you regularly updated as to the progress of the loan. Staying on top of things means you’ll know immediately if there’s a problem that must be dealt with.

For a refinance transaction, the closing couldn’t be simpler. A notary will come to you with all of your loan documents, explain everything in detail and have you sign all of the necessary papers.

For a purchase transaction, you will meet with a closing agent, sign the necessary legal documents, settle your transaction and be on your way to receiving your keys!

Do you have a question about the loan process? Call us, we are here to help.