What Can you Expect when you Apply for a Mortgage?

The application will ask you questions about the home and your finances. As soon as you've finished the application we'll review your request for mortgage options. After your application is approved on-line, we'll ask you for a deposit to cover the cost of the appraisal on your home so that we can begin to process your request immediately. This deposit will be credited towards your closing fees at closing.

After completing your application, a loan advisor will contact you to answer any questions you may have. Your loan advisor is a mortgage expert and will provide help and guidance along the way. If your request was not approved on-line, you will be asked for any information required to make a decision about your loan.

If you are purchasing a new home, your loan officer will also contact the real estate broker or the seller so that they'll know who to contact with questions.

We'll send you an application kit and prepare your loan for closing.

The application kit will be sent to you via email. The kit will contain papers for you to sign and a list of items we will need to verify the information you provided about your finances during the on-line application.

Title insurance will be necessary. If you're purchasing a home, we will work with the real estate broker or seller to insure the title work is ordered as soon as possible. If you are refinancing we'll take care of ordering the title work for you. We'll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents.

Your loan officer will keep you informed every step of the way via e-mail or telephone.

We'll contact you to coordinate your closing date.

After we receive the application kit back from you and the appraisal and title work, we will contact you to schedule your loan closing. If you are purchasing a home, we will also schedule the closing with the real estate broker and the seller.

The closing will take place at a Baylake Bank location that is most convenient for you. A few days before closing your loan officer will contact you to walk through the final information so that there won't be any surprises at closing.

That's all there is to it! You're on your way to the most convenient home loan ever!