Helping you Through the Michigan Mortgage Process
The mortgage process can often be a confusing one. I realize that most homebuyers are interested in acquiring their dream home, not filling out forms and supplying documents.
I am fully licensed in the state of Michigan and can work with anyone, anywhere in the state. Contact me to get started.
Here is Holly’s experience with my work:
“One of the most important steps in buying a home, or refinancing a current home, is acquiring the services of a loan officer who is professional, knowledgeable, personable and trustworthy. All of those characteristics (and more!) can be found in Kelly Dais.
I recently refinanced my home with Kelly, and she was a delight to work with. She’s very efficient, detail-oriented and easily accessible. She made the entire process a breeze!
I’m also a full-time, licensed real estate agent; therefore, I know firsthand the importance of a high-quality loan officer who you can trust. I’ve been very confident in passing Kelly’s name along to many of my clients. They’ve raved about her professionalism, patience and honesty. Her rates and closing costs are competitive, with no hidden costs or last minute surprises. And it’s been quite unanimous that her high level of customer service and extraordinary communication skills make her a wise choice in the lending industry.
I will definitely continue to call upon Kelly for my own mortgage needs, and I won’t hesitate to recommend her to family, friends and clients!”
Knowing how the process works will hopefully cut down on your stress level. Here is an overview of how the Michigan mortgage process works.
Steps in Getting a Michigan Mortgage
1. Get pre-approved
- Getting pre-approved before buying a house in Michigan is not a required step, but you should do it. Instead of sweating your loan application during the process, you can relax because you area already pre-approved. Also, most Realtors like to know that a buyer is ready to go before they submit a Purchase Agreement.
- Pre-approval means that you go through the credit checking process and the lender agrees, in writing, to give you a certain amount of money. Getting pre-approved gives you a budget and makes you much more attractive to sellers because you have the financing already in place.
2. Fill out a formal loan application
- As part of the origination process, you will fill out a lengthy loan application. You will also be required to submit documentation like tax returns, pay stubs, bank account statements, and investment account statements. You will need to pay fo the cost of ordering your home appraisal at this time.
3. Underwriting – Review of your application
- During underwriting, an agent examines your application, credit history, capacity to pay back the loan, and your collateral. Depending on hew the review goes, the lender may decline or accept your application. Often, the lender will add a stipulation to the loan that covers issues they may be concerned about.
4. Closing Process
- Assuming everything is going well with the purchase, the next step is closing. Before we close, I will tell you the amount you will need, to cover closing costs and pre-paid expenses. Closing costs include title transfer and pre-paid expenses include the mortgage interest that will accrue on the loan between the current time and the day the first monthly payment is due, homeowners insurance premium, and property taxes.
Contact me about our Michigan mortgage rates
Contact me to discuss your mortgage or ask me any questions you may have, at 989.245.2230. If you prefer, you can e-mail me at KDais@newexecmtg.com.