The Mortgage Loan Process

The mortgage loan process doesn't have to be difficult. Once you have made the decision to pursue applying for a mortgage loan with Regions, your Mortgage Loan Originator will work with you to obtain the necessary documentation required for a loan decision to be made.

Below is a summary of the mortgage loan process so that you will have a better understanding of what you can expect:

1 - Borrower
  • Contact Mortgage Loan Originator for financing information
  • Provides initial documentation (tax returns, pay stubs, bank statements, etc.) necessary for underwriting
  • Provide homeowner's insurance
  • Signs final loan documents presented by Closing Agent
  • Provides funds needed to close

2 - Mortgage Loan Originator
  • Provides loan options to Borrower
  • Quotes interest rates/fees
  • Assists in completing the loan application
  • Requests documents needed from Borrower for underwriting the loan file
  • Provides Loan Estimate and other disclosures to Borrower
  • Orders Appraisal
  • Submits loan package to operations center for decision
  • Locks in interest rate

3 - Underwriter
  • Reviews initial documentation for credit qualification and ensures all conditions are met
  • Submits to Processor to collect additional documentation
  • Issues final loan decision

4 - Processor
  • Confirms terms and conditions with borrower
  • Collects all additional documentation
  • Re-submits file for final underwriting once all documentation is collected

5 - Appraisal Reviewer
  • Reviews Appraisal for value of property
  • Issues appraisal to Borrower

6 - Closer
  • Prepares and sends loan closing document package to Closing Agent
  • Wires loan funds to the Closing Agent

7 - Closing Agent
  • Schedules the loan closing
  • Informs Borrower of funds needed to close
  • Explains to Borrower final documents to be signed
  • Witnesses Borrower signature on all required documents

Should you get a Home Inspection prior to closing?
A pre-purchase home inspection, performed by a professional, is a visual examination of the readily-accessible areas of a home to provide an accurate evaluation of the home’s condition at the inspection. This evaluation is presented to the buyer in a comprehensive report so buyers are fully informed of the home’s condition during the mortgage loan process and prior to purchase. While a home inspection is not required by Regions, it is highly recommended.

Whatever your home financing needs, Regions Mortgage is here to help you every step of the way. Please locate a Regions Mortgage Loan Originator or give us a call today at 1-877-536-3286 and we will be happy to assist you in selecting the right loan or answering any questions you may have.

For a step-by-step diagram of the Mortgage process, click on the Regions Mortgage Home Loan Process link below.

arrow Regions Mortgage Home Loan Process