Apply today and a highly-experienced GL Financial mortgage loan consultant will get back to you shortly.
Our process is built to give you a quick pre-approval for almost any financing situation and a painless closing.
GL Financial offers the full range of loan products including jumbos, FHA, VA and interest-only options.
Once you apply, a GL Financial Mortgage Loan Consultant will get back with you quickly to discuss interest rates, closing costs, and the best loan program for you. TheyÂ’ll also go over your loan application information and advise what documents will be required from you to issue an approval.
A mortgage pre-approval is the process where your lender reviews your finances to determine if you are financially able to buy a home and how much you can afford. When this process is complete, youÂ’ll receive a preliminary commitment document, which is your official pre-approval that can be provided to your Realtor or builder.
ItÂ’s important to note that a mortgage pre-approval is not the same as a pre-qualification. Pre-qualification is a much looser estimate of how much you could spend on a home because itÂ’s generally based on a quick phone call where you provide financial estimates. For this reason, itÂ’s not regarded as highly as a pre-approval.
Your loan processor gathers all necessary documents from you and third parties (e.g. appraisals and title reports) to prepare your loan for submission to the underwriter for approval. He/she will be your main contact during the processing of your loan through your closing date.
The underwriter issues the approval on your loan after reviewing your income, employment, credit history and assets. He/she is required to follow published lending rules when determining if a loan can be approved.
When the underwriter approves a loan, there are generally conditions they require the loan processor and the borrower to provide. Examples include borrower explanation letters for certain circumstances, or clarifications from the appraiser regarding the property. Your loan processor will advise you regarding any information required from you and guide you every step of the way.
Once all underwriting conditions have been satisfied, your loan is marked “clear-to-close” and is moved to the GL Financial closing department. Your loan processor will advise you when this step occurs.
