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Formerly known as Public Service Mortage and Prestige Mortgage
Loan Process
Whether you're buying or refinancing, at Endurance Mortgage, you can choose from our four primary programs. These programs are: Conventional, Rural Development, VA, and FHA.
1
Select a
Loan Program
Prequalify
2
You will be asked to provide personal information, such as your social security number, bank information, employment, and income data, as well as various other financial details. This is required to determine if you meet the guidelines of your preferred loan program.
Once you are pre-approved, we will provide you with the various options for which you've been approved. We will also provide you, within three business days, the terms and costs for those programs. More often than not, we are able to provide this information on the same day. Because we want you to be comfortable with your decision, we will also make time to answer any questions you may have.
3
Approval
Options
Intent
to Proceed
4
After choosing your loan option, you will sign an "Intent to Proceed" document. From there, we will move forward with processing your loan.
Once you have committed to move forward, we order your appraisal and title work. Endurance Mortgage uses a third party for appraisals. At this time, we will ask for appraisal payment for the amount we are charged. This must be paid and is the only money that Endurance Mortgage collects upfront.
Note: We have no control over who conducts the appraisal
5
Appraisal/
Title Work
Underwriting
the Loan
6
During this time, we submit all of the information you gave us to one of our underwriters. They will re-verify all the information through a third party to check for accuracy, as well as determining if you meet all of the program's guidelines.
Note: Underwriters can, and usually will, ask for additional financial information that may, sometimes, seem to be a little personal.
Once the collateral, appraisal, and all conditions of the approval have been met, the underwriter will give us notice that we are "clear to close."
7
Final
Approval
Closing
8
After we receive the "all clear," we will issue your closing disclosure form that lists all the final numbers, such as final payment, final amount to bring to closing and first payment date. When you review and agree with the numbers, then all borrowers are required to sign and return the form to us. Upon receipt of the form, we will set your closing date, no sooner than three business days.