Our Process

Learn more about how Right By You Mortgage streamlines your path to homeownership while delivering efficiency, transparency, and success.

Our Home Loan Process

At Right By You Mortgage, our entire team has the same focus: making it easy for you to get to closing. We’ll help you move from pre-approval to holding the keys to your new home in six easy steps.

Get Pre-Approved

Find Your Home

Start Loan Application

Processing Begins

You're Approved

Closing Is Here!

Get Pre-Approved

Share information with your loan officer on your income, assets, debts, and credit history. Your loan officer then will be able to educate you about how much house you can afford, review preliminary loan programs, closing costs, and payment options with you, and provide a letter to give your future seller confidence in your offer.

Find Your Home

For the most up-to-date listings and accurate prices, find a qualified Realtor ^® who can help you negotiate everything that should be included in your purchase agreement.

Start Loan Application

Your loan officer will gather all of your documents needed for loan underwriting. You’ll then sign your Application, Loan Estimate, all applicable State and Federal Disclosures, and lock in your interest rate. Lastly, we’ll help you review your Loan Estimate and Disclosures carefully, and if you have any questions, we’re here to help!

Processing Begins

The Right By You Mortgage team will start working to verify the documentation you provided, order your appraisal, insurance and title work, and recalculate your income and debt to confirm your eligibility.

You’re Approved!

Congratulations! Your loan has been fully approved, and you can proceed to close on your new home! Your Closing Disclosure, which confirms your closing cost, payments, and cash needed for closing, should be issued at least three days before your closing. Review it carefully and ask our team if you have any questions.

Closing Is Here!

Sign your final Closing Disclosure, Note, Mortgage/Deed of Trust, and all applicable State and Federal Disclosures. Once that’s complete, your loan officer will fund your loan, and the attorney will help disburse that money to the seller and their bank as needed. Next, you get to pick up your keys and start moving into your new home!

Sign Up for Our On-Time Closing Guarantee!

With our Right By You Guarantee, you will have peace of mind knowing your loan will close on time so you can move into your home as scheduled! If you don’t close on time, we pay the buyer and the seller $500.

Get Started

Required Documentation

You will need to gather information about your income, assets, liabilities, and property details. Your lender may request specific information based on your personal situation and type of loan, but, in general, you should at least gather the items below:

One month of pay stubs
Two years of W-2s and tax returns
Two months of bank statements on all accounts
Sales contract and copies of the due diligence and/or deposit checks for the home you’re purchasing
Contact information for your landlord, HR department, and any debts that you may be paying off
Any applicable additional documents, such as:
- Divorce Decree/Separation Agreement
- Bankruptcy paperwork
- Letters of explanation on any derogatory debts
- Gift letter
- P&L statements for self-employed borrowers

FAQs

When do I need to obtain a homeowners insurance policy?

Proof of homeowners insurance will be required before you can close your loan. Typically, you will need to present an insurance binder and pay for one year’s worth of insurance coverage.

What inspections does Right By You Mortgage require on conventional mortgages?

Right By You Mortgage requires an appraisal inspection, also referred to as an appraisal, on conventional mortgages. Government funded loans (e.g. FHA, VA, and USDA) have other requirements depending on property type. However, we strongly recommended that you obtain a home inspection and make your purchase offer contingent on the findings of the inspection.

Why is an appraisal needed and who completes it?

An appraisal determines the value of the property you are purchasing or refinancing. It helps ensure you are not buying a property for more than the typical market value.

An appraiser must be licensed by the state. Usually, the appraiser will inspect both the interior and exterior of the home. However, in some cases, only an exterior inspection will be necessary based on your financial strength and the location of the home.

After the appraiser inspects the property, he or she will compare the qualities of your home with other homes that have sold recently in the same neighborhood. These homes are called “comparables” and play a significant role in the appraisal process. Using industry guidelines, the appraiser will try to weigh the major components of these properties (i.e., design, square footage, number of rooms, lot size, age, etc.) to the components of your home to come up with an estimated value of your home. The appraiser adjusts the price of each comparable sale (up or down) depending on how it compares (better or worse) with your property.

Do I need an appraisal and a home inspection?

Both a home inspection and an appraisal are designed to protect you against potential issues with your new home. Because they have completely different purposes, you should rely on each of these reports uniquely to help confirm that you’ve found the perfect home.

An appraiser is generally looking at the marketability of your home. Is it similar in type, quality, square footage, condition to other homes in your market? Those factors will help your appraiser come up with a reasonable value of your home. During the appraisal inspection, your appraiser may also make note of obvious conditions that may affect the livability or marketability of the home such as broken windows, damaged flooring, roof leaks, unsafe decking, or foundation structural deficiencies.

However, appraisers are not construction experts and won’t find or report items that are not obvious. They won’t turn on every light switch, run every faucet, or inspect the attic or furnace. That’s where the home inspector comes in. Home inspectors perform a detailed inspection of your home from the attic to the crawl space. They can educate you about possible concerns or defects with the home so that you can make plans for any necessary repairs.

Where do I go for closing?

Closing is typically held at the office of the real estate attorney you have chosen, unless scheduled otherwise. Some states permit “mail away” – or “mail out” – closings. If you’re able to obtain a “mail away” closing, your Real Estate Attorney will send you the documents using overnight delivery.

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Ready to Take the Next Step?

Get Pre-Approved