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Your Loan Process

The home financing process may seem an overwhelming task, but our job is to ensure that you receive the best loan for your situation as quickly and easily as possible! 

How do we do that?

Throughout the loan-application process, we provide you with regular updates. You can also e-mail us with questions or new information. And if you need immediate assistance, your Residential Mortgage Lender and Loan Assistant are just a phone call away!

Here's an overview of the loan application process

STEP ONE - Pre-Approval

Call us first.  By giving us some general financial information, we can help you determine how much you will be able to borrow.  Having your loan pre-approved could give you more power when you're looking fora  home and negotiating the purchase price.  We will also review your credit report and evaluate your debt-to-income ratio.

STEP TWO - Application & Processing

When you've selected a property and have a contract with the Seller, the next step is to complete your loan application, which can be done easily through our website. To get started, select "Full Application" from Apply Now drop-down menu on the left sidebar.

At the appropriate time we'll order a property appraisal for you.

Please keep in mind that applying for a mortgage loan is an ongoing process that takes into account EVERYTHING you do - right up to the day of closing!  That's why we encourage borrowers to refrain from incurring any new debts or making lifestyle changes that could affect or hinder the approval of your loan.  Ask your mortgage lender for recommendations to ensure a quick and smooth loan closing process.

STEP THREE - Loan Approval, Funding & Closing

Your Real Estate Agent or the Seller will designate an Escrow/Title Company to handle the funding of your loan, along with many other factors which make your purchase go smoothly.

The Loan Closing is a meeting where you will complete the final paperwork to purchase the home from the seller, sign your mortgage documents and receive the deed and keys to your new home!  We will coordinate with the escrow team and you'll sign the final papers at their office.

That's the loan process in a nutshell: Simple, Straightforward, Cost-Effective, and FAST!

First State Bank Mortgage (Corporate Office)
2850 West Clay , St. Charles, MO  63301
Office:  (636) 940-5626
Copyright © 2019 First State Bank Of St. Charles
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