Online Mortgage Loan Application Process For Home Buyers

This Article Is About The Online Mortgage Loan Application Process For Home Buyers

Applying for a formal mortgage application has never been simpler. The mortgage application and approval process are done online. Borrowers do not have to overnight documents and/or stop by the mortgage company to drop off important paperwork and/or documents. Everything is done via secured email correspondence and/or secured uploading documents. Closing docs are sent via email. Funds are wired to the title company.

  • Borrowers can now apply for mortgage application
  • Just click on the APPLY NOW icon on the top RIGHT section of this website
  • It is a secured confidential mortgage application process
  • Within minutes of submitting an online mortgage application, one of our loan officers will get alerted and contact you to go over the application
  • Two years of tax returns, two years W2s, 30 days of paycheck stubs, and verification of down payment will be required prior to issuance of pre-approval
  • The loan application will be submitted to the automated underwriting system for automated approval prior to the issuance of pre-approval

In this article, we will discuss and cover the Online Mortgage Loan Application Process For Home Buyers.

Getting Pre-Approved With Online Mortgage Loan Application Process

When completing the online mortgage application, please take the time and fill in all of the information requested as accurately as possible.

  • It is in the best interest that all the information be as accurate as possible
  • Make sure full name, including middle initial, is listed correctly
  • On the section where it states subject property, type in To Be Determined unless there is a property under contract

If there is a rough idea of the property taxes and homeowners’ insurance, please fill that in.

No Appointments Needed With Online Mortgage Loan Application Process

Why no need for online meetings Mortgage application

On the section where it asks for your bank account information, do not have to fill out the account numbers but do write the name of the bank and the amount checking or savings account.

  • All income is monthly gross income
  • Borrowers can also state part-time income, pension income, social security income, and child support income if it applies

Lender Overlays

If you have a co-borrower, make sure the co-borrowers information is as accurate as possible.

  • We will approve an online mortgage application on the information that is stated and if the information is wrong, the online mortgage application needs to be manually corrected
  • All information that is stated will be verified and documentation will be needed if the online mortgage application process proceeds to the next level
  • Borrowers with judgments, collections, bankruptcy, or foreclosure, please state that on the online mortgage application
  • All disclosures such as public records need to be stated
  • Not disclosing it will

Steps Of Mortgage Process

What are the steps of the mortgage process?

Once you have completed your online mortgage application,

  • After the online application is submitted, a loan officer will go over the information to make sure all of the information is correct
  • A Loan Officer will do a credit check and go over any derogatory information on the credit report
  • I will then submit it to our automated underwriting system for approval or an approve eligible
  • With automated approval, a loan officer will go over the interest rate and mortgage terms and issue a pre-approval letter
  • If it comes back not being approved/eligible, a loan officer will go over with the borrower what we need to do to get it approved
  • We might have to repair credit to boost credit scores
  • Or debt to income ratio might be a little high and we might have to restructure the loan application or pay down some credit cards or some other debt

Or see if we can utilize overtime income or other income to reduce debt to income ratio.

Get Pre-Approved Online Today

Either way, all of my online mortgage application clients will get approved now or in the near future.

  • Borrowers with bad credit can qualify for FHA Loans.
  • FHA does not require to pay off outstanding collections and charge off accounts.
  • For borrowers who have recently filed bankruptcy and/or foreclosure, we have NON-QM Loans and bank statement mortgage loans where no waiting period after bankruptcy and/or foreclosure is required.
  • We can advise and help to re-establish credit so mortgage applicants will be eligible for a mortgage loan in the very near future. 

Please contact Gustan Cho Associates Mortgage Group to start the online mortgage loan application process started at 262-716-8151 or text us for a faster response. Or email us at The team at Gustan Cho Associates is available 7 days a week, evenings, weekends, and holidays.

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