Our Process

key_house.jpgHere's how our typical loan process works:

STEP 1: DEVELOP A PLAN
A licensed mortgage originator will discuss your financial situation, your current needs and your long-term goals. We will review your credit report in detail. We'll then discuss several customized options and tailor a mortgage option to meet your needs.

STEP 2: IMPLEMENT A PLAN                                              Once we decide which program best suites you, we review the entire mortgage process and ensure you understand all aspects of the loan before you sign anything. We create a list of required documents, which provide us with the  required income, assets and other verifications. Your mortgage consultant is available to talk with you about any questions you have.

STEP 3: VALUE YOUR HOME
After signing the mortgage package, we order an appraisal on your home and schedule a convenient time for a local appraiser to meet you at your home to assess the value of the property. This is required by all lenders to determine how much they are willing to lend to you.

STEP 4: SECURE A MORTGAGE COMMITMENT                           Once all requested items and the appraisal has been received the file will be reviewed by one of the national lenders New Milford Mortgage works with on a regular basis.  This underwriting process takes approximately 5-7 business days.  Upon completion of this underwriting process the lender will issue a mortgage commitment.  This commitment is a promise to lend you the funds for your purchase or refinance.  

STEP 5: CLOSE ON YOUR LOAN
New Milford Mortgage then takes care of everything. Once we have all the documents we need to complete the process, we schedule a closing date, which can be as quick as seven business days after you decide on the loan package you want. It's that easy. New Milford Mortgage saves you time, removes the hassle and, most importantly saves you money. We know the mortgage business and the steps it takes to help make your dreams a reality.

Call us today at 860 355-3846 and a mortgage professional will work with you to save you money, meet your financial needs and move you a step closer to your dreams.