Loan Process

8 Steps to a home

Premier Nationwide Lending feels the homebuying process should be transparent and stress free. Below you will see the 8 step loan process you will encounter when buying a home. If you have any questions concerning the home loan process, please contact your Premier Home Mortgage Loan Expert who is on standby ready to assist you with your home mortgage needs.

Eight steps to a home.

1. Pre-qualification Pre-qualification is usually the first step after initial contact is made to the lender. When pre-qualifying a borrower, the lender gathers information about the income and debts of the borrower and makes a financial determination about how much house the borrower may be able to afford. Wondering about your credit?

2. Application The application is actually the beginning of the loan process and usually occurs between days one and five of the loan. The borrower completes a mortgage application with the loan officer and supplies all of the required documentation for processing. Various fees and down payments are discussed at this time and the borrower will receive a Loan Estimate, which itemizes the rates and associated costs for obtaining the loan.

3. Opening the File This occurs between days 3 and 10. At this time the lender orders a property appraisal, title insurance, property survey, and credit reports, mails out requests for verifications, such as employment, bank deposits, rent, and any other documents needed for processing the loan. All information supplied by the borrower is reviewed at this time and a list of items not yet received is compiled.

4. Processing Processing occurs between days 5 and 25 of the loan. The processor reviews the credit reports and verifies the borrower’s debts and payment histories as the VODs and VOEs are returned. If there are unacceptable late payments, collections for judgment, etc., a written explanation will be required from the borrower. The processor also reviews the appraisal, survey, and checks for property issues that may require further discernment. The processor’s job is to put together an entire package that may be underwritten by the lender.

5. Underwriting Lender underwriting occurs between days 15 and 25. The underwriter is responsible for determining whether the combined package received by the processor is deemed as an acceptable loan. If more information is needed, the loan is “suspended” and the borrower is contacted to supply more documentation.

6. Pre-Closing Pre-Closing occurs between days 20 and 30. The file has come out of underwriting and all conditions are being cleared. Once this has been achieved, a closing time is scheduled.

7. Closing Closing usually occurs between days 20 and 30 of the loan. At the closing, the lender funds the loan with a cashier’s check, draft, or wire to the selling party in exchange for title to the property. This is the point at which the borrower finishes the loan process and actually buys the house.

8. Move in!

Residential Mortgage Loan Originators

William is a graduate of the University of Texas at Arlington with a BBA in Marketing. Before becoming a successful mortgage loan originator, William was pursuing his dream of a professional golfer on the mini tours. When not working he enjoys days at the lake with his wife Laurie, playing golf, duck hunting, and spending quality time with his family. They attend Lake Pointe Church in Rockwall, Texas and have been members for many years. William and Laurie reside in the Rockwall area and are proud parents to twins Hunter and Hayes. Outside of work he lives life to its fullest.

William is a caring person and has a passion is to help families into new homes. Communication and utilizing his expertise allows him to consistently provide clients with a “World Class Mortgage Experience.” Our goal is to make the process simple and close your loan on time. Staying on top of new regulations and product modifications allows him to inform borrowers how to make their closing a seamless transaction. Communication is the key to success which helps build a strong relationship with each client. Our culture is to provide an unparalleled level of service.


Loan Center

Checklist

What you will need to ensure a smooth home mortgage process.

Loan Options

There are several loan options available when purchasing a home.

Down Payment Assistance

Find out more about special programs and who qualifies.

Calculator

Wondering how much you can finance?

Testimonials

William did a wonderful and thorough job with our refinance. He went out of his way to accommodate our busy schedules and came to us to pick up all loan documents. He even went as far as setting an appointment for a person to come to our house to go over everything with us at closing. William was exact with all documents and extremely knowledgeable about the refinance process. He answered all questions honesty and accurately and completed our refinance in a timely manner. He even continued to answered questions for us months after our refinance. My husband and I would highly recommend William to anyone in the market looking for a loan officer.

Greg & Katherine D.

It was an absolute delight to get to work with William. I've had nightmare stories told to me by friends and coworkers but never encountered any problems with Will because he always kept me in the loop. Thanks for helping me get my condo!

Kim G.

We've used Mr. Branch on three mortgages. He was prompt, informative and kept us in the loop throughout the entire process. He is very professional, courteous and SMART. USE HIM!

Mark & Lorna K.

William was our Loan Officer for two mortgage refinances and closed out both deals in less than 4 weeks. In both cases he was able get my wife and I the best APR available and lock in without paying points. His business acumen is second to none in the industry. He was very resourceful wrangling our credit/debt situation and knew what calls to make and when to push the loan forward. His response time and communication skills are fantastic. He always responded to my emails and phone calls within the business day and I hardly ever found myself waiting on him, more often it was my delay in submitting documentation. I highly recommend William Branch!

Robert & Christi A.

William Branch was referred to us by our realtor. He was a very good choice for us. William was very knowledgeable about the loan process and answered all our questions and concerns as they popped up. No matter the time or day, he was there for us. He continued to go out of his way to gather and complete our application and any other information needed to get the process approved and get us into our new home. Thank you William.

Jimmy & Amy R.

William Branch worked with my wife Shelley and I do what we felt going in might be an impossible mission. William worked with us, was mindful of our needs and budget, and worked diligently, many times "after hours", some days it seemed his hours were 24, working on ways to make this deal work. It was not easy for him, nor us, but he managed to dig deeper and find solutions from applications, to credit, working with the VA requirements to even helping us find homeowner insurance. Ours was a challenging loan, but he made it happen for us and a dream come true.

William & Shelley A.

William Branch was very professional and reliable. I was worried at first about working with William since my first experience with purchasing a home was horrible but he proved me wrong. He was very quick to return my calls/e-mails and answered all my questions. I would definitely recommend my friends and family to William Branch.

Rosie & Alex M.

William was an answer to prayer.. We quickly found out purchasing an AG property was not an easy task.... until we found William who had no problem! He found us a better interest rate than any bank could give us and we checked online as well but found all kinds of hidden fees! William stepped up and gave us his knowledge and helpfulness to make the loan part of buying a house painless! He kept us up to date on what was going on and took a great interest in making sure everything was perfect for us and when we hit a problem he was quick to let us know and had a solution to make it work out. He has stayed in touch with us and was there for us at the closing table to make sure everything was perfect! My husband and I would recommend William to anyone and know they will get same great care and commitment we received! Keep up the great work William and look forward to working with you on our next deal!

Mark & Leigh W.

William was very professional in all his dealings with us during our refinancing. We have been through this process several times but this was by far the smoothest and easiest ever. William was in touch with me or my husband almost daily by email or phone to give us updates. There was a slight hiccup (we were surprised by the value of our house), but he worked through this with us very professionally and thoroughly so we could still get the benefit of a great new rate and some cash to help with some updates.

Tim & Cindy B.

HBM

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