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Home Loan Process

WHAT TO EXPECT DURING THE HOME LOAN PROCESS

We are excited you have selected NavyArmy as your mortgage lender, we know you have a variety of lenders to choose from and truly appreciate your business. 

Just a few benefits you will receive with a NavyArmy!

  • No Private Mortgage Insurance (PMI)
  • Low closing costs
  • Less paperwork
  • Tax and insurance escrow options
  • Great service

STEP ONE -- Apply Now! Getting started is easy

Simply Click Apply Now to complete your Home Loan Application. During this process you will gather documentation to complete your loan application.

STEP TWO -- Underwriting

At this stage your loan will go through an entensive underwrite to get you qualified for rates and terms that fit your needs! Your income and application will be reviewed to establish your buying power.

STEP THREE-- Decision

Congratulations!!! You have completed the application process. During the decision stage we will cover terms and conditions of your home loan.

STEP FOUR-- Processing

You are in the home stretch with the processing stage. At this time we are ordering the third party services- engaging an appraiser, validating title or ownership records and finalizing your homeowner's insurance. The file is being prepped to receive a clear to close from and an underwriter.

STEP FIVE-- Pre-Close

At this stage you are half way through processing! We will now discuss the value of your home, as well as gather additional items needed to get you closed. You will receive your closing disclosure at least three business days prior to closing, to review your settlement charges. The closing disclosure will answer the most important question-- "How much do I need to bring to closing?"

STEP SIX-- Closing

Closings can take place at a Title Company or with your Home Loan Expert. At this stage you will complete the home buying process. Congratulations!!!

Navy Army Community Credit Union NMLS 500822
PO BOX 81349, Corpus Christi, TX  78468
Toll Free:  (800) 622-3631 Ext. 1002
re@navyarmyccu.com
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