FirstStar is very excited to help you navigate the loan process. Along the way you will hear from one of our dedicated team members. Below you will find a quick explanation of the steps you will take part in from the time your application is completed through your loan closing.
1) Complete our loan application - "Apply now" (eSign).
2) Authorize FirstStar to access and evaluate your credit report and supporting income, asset documents (eSign).
3) Review application and credit report findings with your FirstStar Loan Officer.
4) Review loan options with your FirstStar Loan Officer based on your unique criteria scenario - purchase or refinance.
5) Compare mortgage interest rates and terms
6) Choose the offer that best fits your needs
7) Submit complete loan package to a lender best fits your loan criteria (eSign)
8} Email notice - Underwriter review (additional documentation may be requested)
9) Email notice - Underwriter loan approval or loan denial
9a) Email notice - Underwriter has completed the review and issues Clear-To-Close with a Closing Disclosure (esign)
10) Loan Clear-To-Close - coordinate closing date, time and location to wet-sign your new loan & release funds via 3rd party title company.
Documents you will need to complete the loan application:
- Driver's License
- Social Security Card
Schedule of Real Estate (all properties)
- Recent mortgage statement(s)
- Copy of homeowners' insurance
- Recent property tax bill
- Residence history for the past 2 years
- HOA information, if applicable (monthly payment)
- DD214 for VA applicants
- All bankruptcy discharge paperwork
- Gift letter/Gift documentation - paper trail of all fund source
- Divorce decree or legal separation agreement, including child support agreement