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Mortgage Loan Process

When you choose Union Bank & Trust for your home loan, you'll get responsive service from a local expert who will be with you every step of the way. You'll get regular updates, and your loan officer is always just a call or email away. Here's an overview of a typical loan application process:

What to expect when getting a mortgage loan.

Loan Officer

Your Loan Officer will help you find the best loan options for your unique situation and financial needs.

  • First Step to success is meeting with one of our knowledgeable loan officers
     
  • Complete the loan application

Loan Processing

Expert Loan Processors prepare the loan file for approval.

  • A disclosure package will be sent to you within three business days of your completed loan application.  Promptly review the disclosure package and return with signatures.  Contact your loan officer with any questions.  Notify your Loan Officer of any inaccurate information shown on the "Uniform Residential Loan Application."
     
  • Respond promptly to all requests for additional documentation.
     
  • Loan status follow-up. If the loan disclosures and requested documents have not been received, expect a friendly reminder from your Loan Officer. Without these documents a delay in closing could occur.
     
  • With the return of your disclosures, we will begin ordering standard documents: Appraisal, Flood Certificate, IRS Tax Transcripts, etc.
     
  • Shop for Homeowners (Hazard) Insurance. Provide agent’s contact information to your Loan Officer, who can provide referrals if you’d like.
     
  • Loan status follow-up. Your file is almost ready to send to underwriting. Your Loan Officer may have additional questions or request additional documents to resolve anticipated concerns.

Underwriting

Underwriters ensure your loan file meets program and document guidelines.

  • Underwriting will review your file.
     
  • Loan status follow-up. Loan officer will call with the results from the underwriting review. The underwriter may have questions; this is typical for most loans; please do not be alarmed.
     
  • Loan status follow-up.  Once approved, your Loan Officer will contact you to schedule and/or confirm the closing date, time, and location.

Closing

Closers prepare your closing documents and final closing costs

  • Closing preparation will be completed.
     
  • Loan status follow-up.  Your Loan Officer will contact you about your costs on your Closing Disclosure and any funds needed to close the loan.
     
  • You will meet with your Loan Officer or an appointed representative to execute the closing documents and collect any funds needed.

Post-Closing

  • Almost finished! Let us know how we did in your loan process. A survey will be included with your closing package — please complete and return.  We value your feedback to help us improve our process and your experience.
     
  • A few weeks after closing you will receive information about making your first mortgage payment.
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