The Mortgage Loan Process

At Glacier Financial we work very hard to make the loan process as quick and easy as possible for all of our clients. Whether you’re looking to Purchase a new home, or Refinance an existing loan, the Professionals at Glacier Financial provide a mortgage experience that’s more informative, educational and simpler than any other mortgage provider in the country. In addition, regardless of where you live in Michigan, we’ll come to you if necessary. The entire State is local to us!

Step 1. Application:
At this step, your licensed Loan Originator will perform a short Q&A, either by phone or face to face in our office. This process usually takes 10-15 minutes and involves gathering information such as:
• What type of loan you’re applying for.
• What you’re hoping to achieve.
• 2 years of residency (where you’ve lived for the last 2 years).
• 2 years of employment history (where you’ve worked for the last 2 years).
• Gross Monthly Income
• Average amount of liquid assets
• Date of Birth
• Social Security number

Step 2. Analysis:

At this step your Loan Originator will input all of your application into our LOS (Loan Origination Software), and perform a credit, income, and asset analysis. This process can take anywhere from 20 minutes to 48hours, depending your individual scenario. Next we’ll determine what Mortgage options are available to you and contact you with the results.

Step 3. Analysis Results:

At this step your Loan Originator will contact you either by phone, email or schedule an appointment to review the results of your Analysis. We’ll review your options with you and make sure the Loan Program that’s available to you, meets your goal. Next we’ll schedule a time to either meet face to face, or email you our Origination/Application package.

Step 4. The Origination:

At this step you’ll either meet with your Loan Originator at our office, your home or office, or we’ll email your package to you. We’ll gather and copy your income documents (W2’s, pay stubs, 1040’s etc.) as well as any other necessary documentation to submit your loan to our underwriting department. We’ll also go page by page through the entire Loan Application explaining each page in detail and answering any questions you may have.

Step 5. The Appraisal:

At this step we’ll order your Home Appraisal. Depending on the type of Mortgage you qualify for, this process could take 24 hours to 7 days to complete. The Home Appraisal is by far one of the most important pieces of documentation required for any Home Mortgage. Once we receive your appraisal from the State licensed appraiser or Appraisal Management Company, we’ll forward a copy to you at your request. Assuming the value and quality of the home are sufficient, we’ll proceed to the next step.

Step 6. The Closing:

At this step, your Mortgage Loan has been finalized and is ready to be authorized. You Loan Originator will schedule a time that’s most convienient for you, to either meet at your home, our office, or a local Title Company to conduct the closing. All of our Loan Originators attend their closings. The Closing Process takes anywhere form 20 minutes to 1 hour depending on your transaction and questions. Refinances are typically quicker due to there being no seller or Real Estate documents to cover as well. We encourage any questions at your Mortgage Closing. That’s it! You’ve just obtained a new Mortgage Loan. The entire process ranges from 5 to 20 business days, depending on the type of Mortgage Loan, your cooperation and the cooperation of the Real Estate Agents involved, if any.