The Mortgage Process
Simplifying the Mortgage
1. Get Pre-qualified – Submit Your Online Mortgage Application
Getting pre-qualified with one of our preferred lending partners is the first step. This will allow you to establish a budget. Even if you have been previously pre-approved through another lender, Rockford’s partnerships with some of the most prominent lenders in Central Ohio will provide you additional benefits and will make the process much smoother.
Documents to have readily available:
- Copies of the 2 most recent pay stubs for all borrowers.
- Copies of the 2 most recent W-2 forms for all borrowers.
- Copy of driver’s license.
- Copy of 2 most recent months bank statements for all accounts.
- Most recent 401(k) and/or retirement account statement.
- Copies of the 2 most recent federal tax returns.
Other Documents Needed if a Veteran
- Copy of DD214 & VA Certificate of Eligibility if available.
Miscellaneous Documents (If Applicable)
- Copy of divorce decree, separation statement for alimony or child support.
- Copy of bankruptcy discharge papers with itemized list showing what creditors were included in bankruptcy.
2. Finding Your Dream Home
Rockford offers a variety of floor plans in various neighborhoods throughout Central Ohio. You may bring in a 3rd party like a Realtor to help you with your search. Contact any of Rockford’s new home consultants today to get started! Once you have found your dream home, the next step is to enter into contract. Having already been pre-qualified with one of our preferred lenders will allow your application to be submitted to underwriting, usually within a few days of the initial contract, and fully approved generally within a few weeks.
3. Mortgage Application Submission to Underwriting
Congratulations! Most of the hard work is now complete on your application. It’s time to submit the file to underwriting for official approval. Once the file has been underwritten, our preferred lenders will provide Rockford Homes with a fully underwritten loan commitment. Once received the construction of your new home will officially be underway!
Once your new home is complete, it’s closing time! Be prepared to pay the remaining closing costs and your down payment the day of the closing. Typically, you must pay those items in the form of a certified or cashier’s check unless the total amount is over $10,000. In that case, the funds must be wired directly from your bank to the title company. You will be provided wiring instructions to give to your bank. This usually happens 2-3 days prior to closing to ensure the wire is received by the title company and all delays are avoided. You will receive the keys to your new home at closing. Now it’s time settle in and enjoy your new home!
We’re eager to help you find your new home. Let us know how we can help!