Mortgage Loan Process

Mortgage Loan Process

1. Complete Application

You will have to provide a completed loan application and the requested documentation to your loan officer. The loan officer will be the intermediary between you and the lender/underwriter. The underwriter is the person who goes through the information/documentation you have provided with a fine-tooth comb to make sure everything fits the program requirements. You will not be able to speak with the underwriter as it is the loan officer’s job to communicate information between all parties.

2. Documentation

In order to purchase or refinance a loan, the lender will require documentation to verify and substantiate your employment, credit, and financial situation to verify that you have the ability to repay the loan. This documentation may consist of tax returns, recent pay stubs, bank statements, rental or mortgage history verification, appraisal, purchase agreement, divorce decrees, bankruptcy papers, and any other information the lender deems necessary.

3. Waiting Game

Expect to wait. It may take 2-3 days to get the initial response from the underwriter. The underwriter will either approve the loan as it is, or more likely, will provide a list of items that need clarification or additional documentation.

4. Additional Documents / Processing

Expect to be asked to provide additional items. Once you give these to your loan officer, it will be a few days before you hear back again. The underwriter may come back to the loan officer several times with certain “conditions.” There’s no reason to worry about this as it is commonplace when going through the process. The underwriter is simply doing an underwriter’s job. At this point, what you have is a conditional approval – meaning, your loan is approved pending acceptance of these conditions.

Understand that the entire loan process typically takes between two and three weeks, possibly longer, depending on the particular circumstances of the loan. Loans for self-employed people, people with poor credit, or people with unusual circumstances often take longer because of the addition

Title Company / Closing

Realize that once the loan is approved, the loan papers will be sent to the escrow/title company. The title closer will add other documents to the file created from information received from the lender. Once these documents are prepared, the closer will contact you to set up an appointment for you to come in and sign your papers.

Expect to sign several papers at the closing table. The title closer will provide you with a copy of everything you sign.

5. Loan Funded / Move in

If you are purchasing a home or refinancing and investment property, the loan should fund on the day you sign the papers. If you are refinancing your primary residence, you have a three day rescission period before the loan funds. This three day period gives you a chance to look over the loan papers and decide if you want to keep the new loan.

The loan and mortgage will get recorded with the county one or two days after the loan has been funded. Once the loan is recorded, the transaction is complete.


Marissa L

Highly recommend!

This was my first time buying a home and it went very smoothly. I had no idea what to expect and all this was a foreign language to me but Ryan and his team were very patient and took time to ensure that I understood everything. They were so knowledgeable and responsive. Having them as my lender put me at ease during this process.

Brian Christensen

Coming from a prior lending/mortgage background I already had an institution in mind, my agent recommended to also try Ryan, and once I met with him, it was a no-brainer. We walked through everything and I am admittedly a difficult customer when it comes to financing. Ryan was patient and awesome, and the process had way less hoops than I expected. I actually just contacted him again today now that I found a new property and I realized I never left the well-deserved review.

Innessa Schwartz

Ryan Yardley and team were such a joy to work with. This was our first purchase of a home, I asked a lot of questions and we needed crazy guidance.. we were so well taken care of! We always heard back within a few hours (if not sooner) of contacting Ryan and team. Could not be happier with our experience. Thanks!

Jen H


Ryan is very knowledgeable and I felt like he shared that knowledge to help make important decisions based on my specific circumstances and options. You always want to feel you trust the person you are working for and they are not out to make as much money or commission on you as they can. I definitely felt that trust with Ryan.

William Johnson

Wonderful and profession for a new home buyer

Ryan Yardley and his team were very flexible, responsible, and timely with requests from the very start. Ryan made the lender process comfortable and easy. He was quick to provide turn around on proposals and patient with us as this was our first time buying a home. Patsy and Miranda were great with keeping us informed and letting us know if we needed to provide anything additional. I would definitely recommend Ryan and his team whether it’s your first time or third time buying a home.

Banna Kidane

Amazing Job!

Ryan is absolutely amazing! He has done a fantastic job educating me in the entire process, coaching me, and making sure I got the best interest rates on my Refi. He and his team was so responsive to all of my questions. The one thing Ryan did before officially locking my rates is he did a final review and saw he could get me an additional .25% lower. Would highly recommend him and his team!

Eric Montes

Excellent Service/Above and Beyond

Ryan Yardley and the AMEC Team did an amazing job helping me purchase my new home in MN! The Above and Beyond kudos are necessary due to the fact that they were not my initial lender and actually had to swoop in and save me from a horrible experience I was having with one of the larger banks. They did more for me in two weeks than the large bank did in two months! Long story short, I would have saved myself a lot of stress if I had gone with, Ryan and the Team at AMEC in the first place. I haven’t wasted any time and have already referred him twice to potential home buyers that I know. Highly recommended.


Ryan was great!!

With mortgage rates down, Ryan was able to help me with refinancing my mortgage. He did amazing!! He got me a low rate in addition to getting me money back (a few thousand) with my refi. Ryan was knowledgeable and helpful throughout the process. He answered any questions I had really quick when I called/emailed him. He also updated me throughout the process when I needed to be. I would highly recommend Ryan for someone who is looking to refinance.

REALTORS: How We Help You

Connect with us today to learn more about how Upstream Mortgage not only saves your clients money by going upstream to the wholesale mortgage channels, but also how we strengthen your chances of getting your offers accepted. With our fully underwritten pre-approvals, low closing cost strategies and track record with listing agents, we consistently help our clients win in multiple offers situations.

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