The Prime Mortgage Lending, inc. Process
What to Expect
- Contact your local mortgage Loan Officer or complete a secure online application.
- Your application is submitted for initial review. The findings will be recorded and the processor may request additional supporting information or documentation from the borrower.
- Once the additional documentation is received, your application will be submitted to Underwriting for second review. Your loan application will then be approved or denied. Your Loan Officer will make you aware of the outcome.
- Once your loan is ‘Clear to Close’ you are on the home stretch and ready to CLOSE on your home!
To ensure we perfectly align your mortgage specifically to your unique home buying needs, we securely collect the following documents after disclosures have been signed and the loan is in process:
- Paystubs (30 consecutive days)
- W-2s, 1099s & K1s (K1s are specific to self-employed clients)
- Tax Returns (past 2 years)
- Most recent asset & bank statements (2 consecutive months)
- Government Issued ID (valid & up to date)
- Signed copy of the Purchase Contract
- Copy of Canceled Earnest Money & Due Diligence check (this will be requested at a later time)
- DO NOT make any extreme purchases or max out on any credit cards(i.e. furniture, boat, car, etc.).
- DO NOT open OR close any accounts (credit/savings/checking).
- DO NOT pay off any collections.
- DO NOT co-sign another loan of any kind.
- DO stay current on existing accounts.
- DO call your Loan Officer with any questions at any time!
Prime Mortgage Lending, Inc.
125 Edinburgh S Dr #301
Cary, NC 27511