Purchase Process                       The mortgage industry has seen dramatic changes in underwriting and guidelines that may affect your ability to obtain a home loan.   At Stonebriar Mortgage, you will receive the benefit of our knowledge and expertise working with the loan process.  Our pool of lenders offer a low cost mortgage with the best rates in Texas.    Whether this is your first or last home to purchase take a few minutes to review our 5 STEP program.               We make every loan  "Easy on the Borrower"  Step 1 : Pre -Approval In todays market, a Pre-Approval letter is a must to begin the home search. This one step can save you money and hours of waisted time looking for your dream home only to find you can't buy it..  A pre-approval will take the emotion and guess work out of shopping You can zero in on a decision that fits your budget Sellers and Realtors will treat you as Buyer rather than a Shopper. Documents needed for Pre-Approval full loan application two most current paystubs last 2 years of W2 's self employed will require 2 years of tax returns   most recent bank statements (all pages )  documents verifying all assets (401 K,stocks etc) We will review the loans tailored to fit your income, down payment and preferred terms. After we finalize a game plan you will be issued a Pre-Approval Letter and you can begin shopping with confidence.   Step Two :  Locating A Home    Finding a home with a Real Estate Professional that has your best interest at heart and knows the search area will save  you money and time. A Realtor can be another partner in your corner assisting you to meet your goal of home ownership. Check our Preferred Partner page for a list of Realtors                       Step Three :    Disclosure and Appraisal When you have an accepted sales contract and the escrow funds have been deposited with the Tile Co. You will be issued a revised good faith estimate that matches the new contract. Our loan processing department will submit your file to one of our preferred lenders. The lender will send you "Truth in Lending" disclosures. If sent by email, please open the attachment and respond that you have received the documentation. If sent by postal mail, no response is required. Within 3 - 5 days your loan will be underwritten and the appraisal will be ordered. At this time the underwriter may condition for additional documents that will need to be satisfied prior to final approval.     Step Four :  Final Approval The loan will move to the closing department, where all closing papers will be prepared and sent to the title company.                   Step Five :  Title Closing and Funding Once the Title Co., has received closing documents, a "HUD or Settlement Statement" is issued & reviewed by the lender & loan officer for approval.  Twenty -four hours before closing you will receive a copy to review with your loan officer. The HUD should always mirror your last good faith estimate .     At the scheduled closing, you will need two forms of ID (1picture)and if funds over $500 are required, you will need a cashiers check. During closing you will review and sign all final loan documents. The loan will fund (usually the same day ) and you are given the keys to your new home.          We hope you like our services   if  so Tell your friends and neighbors !! if not Tell us how we can improve