Our process for obtaining a Texas home mortgage loan.
Once Adam Mortgage receives the information requested from the Checklist for Loan Application, we will formally evaluate your application through our processing department and then submit your loan request to the underwriting department.
The goal is to assess your ability to pay back the money that you borrow. We will explain the variety Texas home loans available to you and help you select the best option. Doing so requires a check on your credit score, income, assets, and past/current debts.
From the initial day of application submission to the day of closing may take 30-45 days, depending on the complexity of the application and property being purchased. Read our 6 Steps Prior to Closing
Be responsive once the pre-approval has been obtained with required to complete the final loan approval.
Summary of the loan process from time of accepting the loan application:
- Review the home purchase contract
- Have home inspection
- Purchase homeowner's insurance
- Title work will be ordered
- Home appraisal will be ordered
- Do not take on any new debt
- Interest rate must be locked in no later than 10 days prior to closing
- Close on your new home or the refinance