What to expect

The Advantis Mortgage Process


1

Apply for a mortgage online or call us at 503-785-2528.

We’ll provide you with a letter that affirms you’re pre-qualified for a mortgage and introduce you to your personal mortgage officer. Even if you haven't found a property yet, it’s smart to have a pre-approval so you can make a more competitive offer on your new home. Our pre-approvals are valid for 120 days!
2

We'll send you initial loan disclosures to sign:

• Good faith estimate
• Truth in lending disclosure
• Servicing disclosure
• Borrower's authorization
• Appraisal disclosure
You provide us with a signed & accepted purchase agreement and we provide you with a good faith agreement.
3

Provide all required loan documentation to your loan officer:

• Two years tax returns with W-2
• One month most recent pay stubs
• Two months checking & savings statements
• 1099s and/or Award Letters (as applicable)
• Copy of homeowner's insurance (as applicable)
Once you sign these and send them to your loan officer, you'll lock in your interest rate!
4

We’ll order an appraisal after you provide the appraisal deposit.

After it’s completed, we’ll review the appraisal report with you and all final loan terms.
5

Your loan officer will submit the loan to underwriting for final approval.

Your loan officer will contact you a few days before your closing date to review fees, loan amount, first payment date, etc. – just to make sure you have all your questions answered.
6

Advantis will send your closing documents to a title company.

Your escrow officer will schedule an appointment with you to sign the closing documents. Your loan officer will contact you a few days before your closing date to review fees, loan amount, first payment date, etc. – just to make sure you have all your questions answered.
7

You sign closing documents at the title company.

You’ll pay any remaining costs and sign all the final documents, including (but not limited to):
• HUD-1 Settlement Statement: itemized listing of the final fees charged with your loan
• Truth-in-Lending Statement (TIL): written disclosure of the terms & conditions of your mortgage
• Deed of Trust: pledges your property to your lender as security for repayment of your debt

Welcome Home!

Once all the closing documents have been signed and any remaining expenses have been paid, your new loan typically funds the next business day (refinances typically fund 3 business days after signing). This is considered the settlement date and it means that funds have been wired to the title company and the deed is recorded with the county. This is usually when you'll receive your keys. Congratulations and welcome home!