top of page
The Mortgage Journey
Step-by-step guide to your mortgage journey.
Flexible Loans & Savings
Navigating the mortgage process can feel overwhelming, but we’re here to make it easy. From securing pre-approval to finalizing your loan, we guide you through every step. Our team ensures that you understand each stage, from gathering necessary documents to reviewing loan options, so you can make confident decisions. Let us handle the details while you focus on finding your dream home.
Simplifying Your Mortgage Process
Explore tailored mortgage options with Pacific Union Bancorp for seamless loan and savings solutions.
Financial Assessment
Before beginning the mortgage process, evaluate your financial situation. Review your income, savings, debts, and credit score to determine what you can afford. A solid financial foundation ensures a smoother journey ahead.
Document Submission
Provide all necessary documents such as proof of income, bank statements, tax returns, and employment verification. Timely submission ensures your loan application progresses without delays.
Loan Approval
Once underwriting is complete, the lender will issue a loan commitment. At this stage, you may need to address any final conditions to ensure the loan is ready to close. This is your green light to move forward with confidence.
Property Search and Offer
Start exploring properties that meet your needs and budget. Once you’ve found the perfect home, submit an offer. Once the seller accepts, you can proceed with the mortgage process to secure your financing.
Appraisal and Home Inspection
The lender will arrange a professional appraisal to determine the home’s market value. A home inspection may also be required to ensure the property is in good condition and free of major issues
Final Walkthrough and Closing Day
Perform a final walkthrough of the property to ensure it’s in agreed-upon condition. At closing, sign all necessary documents, pay closing costs, and officially become the homeowner. Celebrate as you take the final step toward owning your dream home!
Avoid These Mortgage Mistakes
Navigating the mortgage process can be complex, but avoiding common pitfalls can save you time, money, and stress.
Underestimating Closing Costs
Many homebuyers focus solely on the down payment and overlook additional expenses like appraisal fees, title insurance, and escrow fees.
Settling for the first loan offer might mean missing out on better interest rates or terms.
Shop around and request quotes from multiple lenders to find the most favorable loan terms for your financial situation.
Budget for 2-5% of the home’s purchase price as closing costs and review the Loan Estimate carefully.
Making Large Financial Changes Before Closing
Big purchases or new lines of credit can disrupt your debt-to-income ratio and jeopardize your approval.
House shopping without a pre-approval can lead to wasted time or missed opportunities.
A low or inconsistent credit score can result in higher interest rates or even disqualification.
Rushing through documents without understanding the terms can lead to unpleasant surprises later.
bottom of page