The Loan Process

• CONTACTING RICHLAND MORTGAGE: If you're buying, building or refinancing, Richland Mortgage will make the loan process convenient and hassle free. You can get answers to any questions you may have regarding your mortgage needs.
  
  
• APPLYING: We offer three easy ways for our clients to apply for a FREE pre-qualification:
  > Call us at 630-515-1010 and we can take your application over the phone.
  > Call us at 630-515-1010 and set up an appointment time to come into our office.
  > Visit our website and fill out an application online.
  
  After you have completed your application, we can have a pre-approval within 24 to 48 hours.
  
• PROCESSING: After receiving your pre-approval, we will complete the required documents relating to your loan. We will also need you to provide supporting documents for the loan process. (W2s, pay stubs, bank statements, etc.) The goal during processing is to gather complete and accurate facts that can be used to make the underwriting process easy and simple.
  
  
• UNDERWRITING: The final underwriting decision involves the evaluation of all the documents that make up your file. Your loan will be reviewed based on four important factors: collateral, assets, credit and income.
  
  
• CLOSING: This is the final step to complete the loan process. A title company will prepare, assemble, and have final documents signed and recorded.