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UNDERSTANDING THE MORTGAGE PROCESS
For many people, navigating the mortgage process is complicated and confusing. Today there are more mortgage programs than ever before. At M and P Mortgage we pride ourselves on our ability to understand your needs and design a program that is tailor- made for you

Our guiding principles are to provide relentless customer focus, unparalleled knowledge and access to the best programs in the industry. We hope that you will contact us so that we may explain the process that matches your situation. The following information provides a brief overview of the loan process.

APPLYING FOR A MORTGAGE
In today's real estate environment, most home sellers will not even consider your offer unless you are pre-approved. Feel free to “Apply online” as soon as you are ready to start looking for a home and one of our loan officers will help you begin the mortgage application process. Or call us toll free at 877-897-2400, if you would like to discuss your concerns.

LOAN PROCESSING
Once you submit your mortgage application, we will typically research the following information:

Credit
Employment
Bank accounts
Loans and other debts

Sometimes this step requires you to provide additional information. This is a common occurrence and should not be cause for alarm. Don’t forget to ask about no income or no asset verification loans should there be a need.

UNDERWRITING DEPARTMENT
Once the accuracy of the loan application is verified, the file goes to underwriting. Underwriters will review and verify the loan package (including homeowner’s insurance, title binder, and appraisal) for any errors and present any few remaining conditions that need to be met by the borrower and loan officer.

CLOSING
Once your loan is approved, your title and settlement agent will schedule with you to sign the closing documents so that you can finalize the purchase or refinance of your home. Prior to the closing meeting, your title company, escrow company or attorney will review a copy of the HUD-1 Settlement Statement with you. This document contains the final total of your closing costs and identifies the total funds you must bring to the closing or the cash in hand you will receive at funding.

M & P Mortgage offers...

Debt Consolidation

VA Loans

Full Service Mortgage Company in Maryland & Virginia