What happens after I apply?
Once you apply, one of Empire’s mortgage consultants will email you a complete documentation list of what will be needed for us to determine if the transaction requested is pre-approved. Once you send all items to us, your pre-approval request will be completed in just a couple hours at most. At a pre-approval status, you are able to rate lock, should you wish to.
The next step would be the electronic signing of your initial disclosures, and once you have, we will submit your loan to underwriting for formal loan approval, and order your appraisal, if you have one required on your file.
After your formal approval comes in a few business days later, we will send you any needed conditions to finish up the transaction.
- Why Update A Pre-Approval Letter?
- How do I update an expired pre-approval letter?
- I am retired and my income is from pension or social security. What will I need to provide?
- What if my credit score is too low?
- How do I dispute an item on my credit report?
- Will the inquiry about my credit affect my credit score?
- What is a credit score and how does it affect my application?
- What if my homeowner’s insurance is up for renewal?
- How do I complete the application if I was in school before obtaining my current job?
- Can I use my new job to qualify for a loan if I haven’t started it yet?
- How will rental income be verified?
- I have income from dividends and/or interest. What documents will I need to provide?
- Do I have to provide information about my child support, alimony or separate maintenance income?
- When will I hear from someone after my inquiry/application?
- How will you verify income on a self-employed applicant?
- Will my second job income be considered?
- Will my overtime, commission, or bonus income be considered when evaluating my application?
- I have student loans that aren’t in repayment yet. Will those be counted in my debt to income ratio?
- What debt do you include in my debt to income ratio?
- Why do you need information about other properties I own?
- Is a gift from someone else an acceptable source of my down payment?
- What will be required if I withdraw money from a 401(K) account for my down payment?
- What if I’m not sure about the property value, sales price or amount I want to borrow?
- What do I do if I can’t retrieve or print out the electronic disclosures, or have some other problem with them?
- What are some tips for completing the online application?
- If my loan application isn’t pre-approved, does that mean you can’t provide me with financing?