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How to Get a Loan

Once you select Cliffco Mortgage Bankers to obtain your home loan, you’ll be amazed at how quickly and simply the loan process moves. Before you know it, you’ll have a mortgage that suits your lifestyle and saves you money!

Throughout the loan application process, we provide you with regular updates. We’ll guide you through every step of how to get a mortgage loan. You can also e-mail us with questions or new information. If you want assistance, then a mortgage expert is just a phone call away! Here’s an overview of the loan-application process:

STEP ONE — Apply for Free – Credit Check Included!

Speak to one of our licensed loan officers to apply and get a free credit check. We can help you fill out the application in person, over the phone, or through the internet. We will gather information like your housing and employment history, and any assets or liabilities you may have. For a purchase, we will help you determine what you want your down payment to be and what home purchase price you should be aiming for. For a refinance, we will analyze how much money we can save you on your monthly mortgage payment. If you are looking for a reverse mortgage, we can discuss how much money you can get from your home and how you would like to receive it.

STEP TWO – Processing & Underwriting

The next step in obtaining a mortgage is called processing. This is where one of our mortgage processors will collect all the necessary documents (see our Mortgage Checklist), order an appraisal, verify your employment and credit history, and do a quick overview of your assets. Once the processor has all the necessary information and the file is organized and packaged correctly, the file is given to one of our in-house underwriters. The underwriter’s job is to check over the file, going over every detail and referencing the mortgage requirements to ensure that your qualifications are acceptable and your loan will be funded.

STEP THREE — Your Loan Is Approved and Funded.
When the underwriter determines that your file is compliant and adheres to the lender’s guidelines, you get a “Clear to Close,” which means you can schedule your closing date! At the closing, your loan becomes final and the funds are distributed.

At Cliffco Mortgage Bankers, our goal is to keep the whole process is simple, straightforward, and fast!

Cliffco, Inc. dba Cliffco Mortgage Bankers NMLS #65328
1065 Old Country Road, Westbury, NY  11590
Direct:  (516) 408-7300
Toll Free:  (800) 834-4040
Toll Free:  (866) 562-6474
Copyright © 2019 Cliffco, Inc. dba Cliffco Mortgage Bankers
Licensed Mortgage Banker NYS Department of Financial Services
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