We’ve designed our site to make it easy for you. This brief diagram will give you a good jump-start!
| Event | Who Does It | Details |
| Review our loan information | Applicant | Before you begin an application, please review loan information from:
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| Apply | Applicant | Complete an application. This will set the process in motion. |
| Loan Originator Contact by Phone | Cornerstone Mortgage, LLC | Your first connection with your loan originator will get a dialogue started which will insure that you get the loan that you want. |
| Credit Check & Prequalification | Cornerstone Mortgage, LLC | We pre-approve you using our artificial intelligence software, or underwriting your loan in-house. Our system will assess your credit, income and assets to quickly determine what loan(s) you qualify for. |
| Required Loan Documentation and Paperwork | Applicant/Cornerstone Mortgage, LLC | Paperwork is still a big part of the loan process. We will mail you forms to sign and a document checklist. |
| Rate Lock & Appraisal | Applicant/Cornerstone Mortgage, LLC | Once we determine your loan amount, type of loan and rate, your loan agent will recommend the appropriate time to lock the rate with a lender. |
| Loan Submission for the Best Rate/Program | Cornerstone Mortgage, LLC | Once all of the paperwork is assembled by our processors, your package will be forwarded to underwriting for approval. |
| Underwriting and Approval | Cornerstone Mortgage, LLC/Lender | An underwriter will review the package and fax an approval to Cornerstone Mortgage, LLC and any conditions necessary for the approval. Most conditions are taken care of by Cornerstone Mortgage, LLC. |
| Clear Loan Conditions | Cornerstone Mortgage, LLC | Our closer gets the conditions from underwriting for final preparations to close. |
| Loan Documents Delivered | Cornerstone Mortgage, LLC/Lender | Loan documents are prepared and delivered to the escrow agent. The escrow agent will call you to arrange a signing. This is coordinated by your loan originator, your Realtor and the escrow agent. |
| Loan Funding | Escrow/Cornerstone Mortgage, LLC/Lender | Once the signed documents are returned, they will be reviewed. The escrow agent will request a wire transfer of the loan funds, close and record the transaction. |