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Texas Home Loan Team
at Prospect Mortgage
QUICK Home Loan Quote
Home Loan Programs
Home Loan Process
We do business in accordance with the Federal Housing Act and the Equal Credit Opportunity Act and do not discriminate on the basis of race, color, national origin, religion, sex, age, income, handicap or familial status.
Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifier #3296) is a Delaware limited liability company licensed by the Department of Corporations under the California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender License #100251; AZ Mortgage Banker License #BK0903027, #BK0909362, #BK0908046, #BK0908050, #BK0908056, BK#0908057, #BK0908058, #BK0908731, BK#0903112, BK#0903912, BK#0906650, BK#0906913; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC2011; MS Licensed Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.; Licensed Banker-NJ Dept. of Banking and Insurance #9932415; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker-NYS Banking Department); Operates as Prospect Mortgage, LLC of Delaware in OH (Ohio Mortgage Broker Act, Lic # MB.803629.000); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #1740; RI Licensed Lender #20021343LL, Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.
HomePath is a registered trademark of Fannie Mae.
Disclosure last updated March 30, 2010
Call Us Today! 817-328-1307
850 E State Hwy 114, Ste 100
Southlake, TX 76092
Texas Home Loan Process
The Texas Home Loan Team wants to make your home loan process as easy as possible. Below are the steps that are included in the home loan process from start to finish.
Loan Application
The first step is to complete the home loan application.
Gathering Documents and Signing Disclosures
The next step is to send over the needed income and asset documentation as well as signing the initial disclosures. The Texas Home Loan Team will send you the initial disclosures within the first 3 business days of a completed loan application.
For a list of documents needed for a home loan, click here.
Loan to Processing
Once we have your documents and a completed loan application, we will move your file to processing. Our loan processor will then order title and appraisal as well as verify employment. The processor will also complete a lot of other required loan documentation that is required for FHA, VA and conventional loans.
Loan to Underwriting
Once the processor has completed processing the loan request, the loan will move to our underwriting department. The underwriter will review the loan and make a loan decision with conditions.
Loan Decision
Once the underwriter makes a loan decision, most loans will have conditions to satisfy before the loan can go to closing. These conditions are usually additional documentation requested by the underwriter. Once we have the documentation for the conditions, we will send your loan back to underwriting for a clear to close.
Clear to Close
The underwriter will review the documents to clear the conditions and issue a clear to close. Once the clear to close is issued, the processor will prepare the file for closing.
Closing
The file will move to our closing department where the attorneys will send closing instructions to title to prepare docs and HUD-1. Our closing coordinator will work with title on approving the HUD-1 and finalizing documents.
Signing
The loan is now ready for you to sign all the loan papers. Once all the papers are signed, title will send the signed papers to our funding department for funding authorization.
Funding
Once the funding department reviews the signed papers and issues funding authorization. Title company will then disburse funds.
Begin the Home Loan Process Today!
