THE MORTGAGE APPLICATION
Take the first step toward your home mortgage today! Apply Online!
OUR MORTGAGE RATES
READY TO TAKE THE FIRST STEP
TO SECURING YOUR MORTGAGE?
COMPLETE OUR ONLINE APPLICATION
USING THE LINK BELOW!
The loan application process can feel overwhelming, but we are here for you!
Helping our borrowers close confidently and successfully on their home is what
Simplicity Mortgage is all about.
The online application is important because it provides us an opportunity to review your information, prior to talking. Having an initial understanding of your situation will allow us to have a more specific and productive conversation.
Not sure what you need to apply?
Don't worry! We'll walk you thru what is required.
The loan application is the first step, we will collect additional information that is needed throughout the mortgage process.
THE LOAN APPLICATION
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Our online application is made up of 17 screens, each collecting different pieces of information from the borrower.
You will be asked to enter personal information about yourself, your home, your finances, your employment and the property you are looking to purchase. If you have a co-borrower, they will fill out an application as well.
Each section of the application is listed below, along with any hints or guidance. You don't have to finish a page to advance to the next page. The information saves periodically on its own or you can hit the save button.
You can navigate the site in chronological order using the previous and next buttons.
Don't worry! It's not as long as it sounds - several of the pages only require a yes/no or a check box.
If there is information you don't know, just leave the item blank and we will discuss later in the loan process.
** There is an option within the application to order and pay for your credit report (about the 10th screen).
You can skip this step if you prefer to wait. We can order the credit report once we have an opportunity to
discuss your real estate goals, financial situation and answer any questions you may have.
All mortgage applications require a credit report, which are paid for initially or at closing.
1. LOAN OFFICER & LOAN PURPOSE
Loan officer: If you've talked with one of the Simplicity Loan officers, select yes and then select their name; if not, we will be reaching out shortly to introduce ourselves!
Enter your loan & property details (or estimates) - the loan amount will auto-populate.
2. PROPERTY DETAILS
Enter the property information as requested.
If you don't know, you can leave it blank - we will revisit it later when we talk.
3. JOINT CREDIT
If more than one person's income or assets will be used for loan qualification, the loan will have a borrower and a co-borrower. These designations will remain consistent throughout the loan process. A person must be included as the co-borrower whenever their assets or income will be used for loan qualification.
4. BORROWER NAME, PERSONAL INFO & MILITARY SERVICE
Personal information (Social, Citizenship, Marital Status, Dependents, Phone #, etc)
Military Service information if applicable.
5. BORROWER RESIDENTIAL ADDRESS & MAILING ADDRESS
Residential address with 2 years of history
Mailing address (if different)
6. CURRENT & PROPOSED MONTHLY HOUSING EXPENSES
Monthly Housing Expenses (Mortgage, Home Owners Insurance, Taxes, HOA, and other - utilities, pest control, etc.
Proposed Housing Expenses (if you know them for the new property) - if not we can fill them in later
7. MANAGE YOUR ASSETS
Add your Assets - Bank Accounts, Real Estate Owned, Gifts, Annuities, etc.
8. BORROWER EMPLOYMENT INFORMATION
Employment Information - current job, previous job and additional monthly income
9. VERFIY EMPLOYMENT AND INCOME
This is a service to electronically verify your employment -
10. ORDER CREDIT REPORT
A credit report is required in order to complete you loan application.
If you would prefer, we can wait to pull your credit until we talk.
**PLEASE NOTE: Multiple credit reports pulled lenders while shopping for a mortgage will not hurt your score, if completed within a 45 day window. Here is some additional background on credit pulls and credit scores from the Consumer Financial Protection Bureau (CFPB):
"Within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry. This is because other creditors realize that you are only going to buy one home. You can shop around and get multiple preapprovals and official Loan Estimates. The impact on your credit is the same no matter how many lenders you consult, as long as the last credit check is within 45 days of the first credit check. Even if a lender needs to check your credit after the 45-day window is over, shopping around is usually still worth it. The impact of an additional inquiry is small, while shopping around for the best deal can save you a lot of money in the long run. Note: the 45-day rule applies only to credit checks from mortgage lenders or brokers' credit card and other inquiries are processed separately."
11. CREDIT AUTHORIZATION AGREEMENT
This agreement is part of the loan application process. It documents that you have given us permission to pull your credit. Without a credit report we will not be able to complete the loan application or assess your mortgage options.
12. MANAGE YOUR LIABILITIES
Add your liabilities to include Loans, Credit Cards, Taxes
13. MANAGE OTHER EXPENSES
Other Expenses - manually add Child Support and other expenses you may have
Disclosures and Details: enter if the loan will be held Fee Simple (exclusive ownership) or Leasehold (provides the tenant temporary ownership rights to the property)
Electronic Consent - Consenting to this agreement will allow us to do business with you electronically.
14. OTHER DISCLOSURES AND DETAILS
Enter if the loan will be held Fee Simple (exclusive ownership) or Leasehold (provides the tenant temporary ownership rights to the property)
Enter the manner in which the title will be held - if you aren't sure, leave blank and we will revisit later in the loan process.
15. E CONSENT
Throughout the loan process there are a variety of documents, disclosures and records that are shared or require signature. Before we can engage in the transaction electronically, we need your consent to do business with you electronically. Please read the agreement and select "AGREE" if you agree.
16. BORROWER DELARATIONS
Answer the questions about the property and your loan. These are to ensure we are following all applicable rules and regulations for compliance.
17. BORROWER DEMOGRAPHIC INFORMATION
The purpose of collecting this information is to ensure all applicants are treated fairly and the housing needs of the community is being fulfilled. Federal law requires that we ask applicants for their demographic information in order to monitor our compliance with the equal credit opportunity, fair housing and home mortgage disclosure laws.
You are not required to provide this information.