Frequently Asked Questions

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General Questions

  1. Can I apply for a loan before I find a property?

    Yes, you can apply for a loan before you find a property. The pre-approval process covers all aspects of the approval process except for property information. For example, during your application, you'll give information about your income and employment, your assets, and the county in which you'd like to buy. By submitting an application you give permission to the Bank to examine your credit history. If approved, you'll receive a pre-approval letter subject to finding a property. You can use the letter to show home sellers that you qualify for a certain mortgage amount, which may help in your negotiations to buy a house.

  2. Does it cost money to apply for a loan?

    We'll give you a loan decision, and let you know for which loan products you qualify, at no cost. Once you are ready to select your loan product and reserve your funds, you will be required to pay an upfront application fee that covers expenses incurred in the processing of your loan application. For your convenience, you may use a credit card to cover the application fees and appraisal fees.

  3. How much time will it take to close my loan?

    Explaining and signing the documents typically takes 30 to 60 minutes. We encourage you to read the upfront disclosures we provide to you right after our receipt of your loan application when you receive them, to ask questions after you read them, to ask questions during loan processing before loan closing, and to ask questions at loan closing. We want you to feel satisfied with your loan product and loan terms.