The Mortgage Process

Whether you are buying a new home, or refinancing your current one, the mortgage process is one that involves many steps. Getting through the process, however, doesn’t have to be confusing. Here’s a brief overview of how it all works:

Step 1: Preparation
Start by gathering support documentation. Typically, you'll need:

  • W-2: last two years
  • Employer name & address: two year history
  • Self employed? Tax return copies: last two years
  • Retired? Pension, Social Security, or monies from retirement account statements
  • Financial account statements
  • Current debt information, including credit cards, loans, etc.
  • Valid photo identification

If there’s anything extra that you need, your mortgage representative will let you know.

Step 2: Fill Out the Application
Apply in person at a branch, over the phone, or online 24/7!

Step 3: Processing
During this time, your application is reviewed at our local mortgage processing department in Latham, NY. One of our professionals will call if they need to clarify anything that may hold your application up with the underwriter.

Step 4: Underwriting
An underwriter will look at your application and work with you and the processing professionals to help move the process along. If the underwriter needs anything, they will contact you directly.

Step 5: Closing
Once the mortgage has been approved, and the “clear to close” has been obtained from the underwriter, it’s time to sign the paperwork! The mortgage paperwork is handed off to Sunmark’s legal representatives, who will meet with you to get everything signed. 

Now that you know a little bit about the process, we encourage you to get started!