Loan Process

If you’ve never bought a home, you may have heard friends or family joke about how signing all the papers is enough to make your arm go numb. If you have bought a home, you know this joy first-hand. Of course, signing all those documents on closing day is the end of a long mortgage process. Learn where all of those documents come from during the home loan process so you’re prepared.

Loan Selection
Loan Application
Approval Process
Closing & Funding
Provide financial information including income and debts so that Radiant Financial Group can preliminarily determine how much of a home you could afford. We will then issue a letter stating how much you are pre-qualified to buy.

A pre-qualification is not a formal application and may be subject to change depending on how accurate the income and debt information was that the applicant provided to Radiant Financial Group.

There are a number of loan programs available and trying to understand which program is best for you can be very complicated and confusing. We have experienced and knowledgeable Home Finance Specialists that will help you understand the different loan programs available for you.

Whether you are looking at a fixed rate program, ARM, balloon or an Interest Only loan, our team is here to help you. (See mortgage programs for a description of the different type of programs available.)

The approval process begins with you completing and submitting an application through your Home Finance Specialist who will assist you in completing the application. At this time, you will be asked for a number of supporting documents. Once we have received your application and the supporting documentation, the file is given to our processing department.

The following will be required on most loans:

  • Name and address of employers for previous two years.
  • W-2s
  • Paystubs for 30 days
  • Tax returns
  • Bank statements
  • Quarterly statements (mutual funds, 401K, IRA, etc.)
  • And other miscellaneous documents
Our processing department verifies the accuracy of the information contained in your application. In addition, the processor will review your credit report; order an appraisal, title commitment, and other third-party information. If there are problems or questions with the information provided, our processors will work with you to get the correct information.
Once processed, the loan is submitted to one of our premier lending partners. Their underwriters will examine the file to certify that it conforms to industry standards and that the appraisal, survey, title commitment and other documentation are acceptable.
Throughout the entire process, Radiant Financial Group will do everything we can to approve your loan application. When your loan application is approved, the information will be moved to the closing process.
Once your loan application has been approved, the closer will work with the title company and/or real estate attorneys to prepare the closing documents and set the closing date with a title company.

Once you and the seller have signed the closing documents, we will authorize the title company to finalize the transaction and the funds will be delivered for your loan.