Check Your Credit
Your credit report includes information on where you live, where you work, how you pay your bills, etc. It is one of many pieces of information that is used to evaluate a mortgage application. To help avoid unexpected issues or delays, it is important to review your credit report before making big credit decisions. The major credit reporting agencies (Equifax, Experian, and TransUnion) are required to provide you with a free copy of your credit report once every 12 months. Free credit report information is available at: annualcreditreport.com.
Pre-Qualify Your Mortgage
If you’re thinking about buying property, you’ve probably heard that you should pre-qualify. Security Bank of Kansas City offers free pre-qualifications, so you can shop for your home knowing that you can afford the mortgage.
Shopping for a Home
If you’re considering a new home, it’s important to pay down your debt and create an emergency fund. Research neighborhoods and attend open houses to help find the home that is right for you.
Submit Your Application
With Security Bank of Kansas City, you can complete your application online and it takes less than 20 minutes to complete. As soon as you've finished, our lenders will review your request as quickly as we can.
Expect Personal Service
After your application is complete, a Security Bank of Kansas City Loan Officer will contact you to answer any questions you may have. Your Loan Officer is a mortgage expert! They will provide help and guidance along the way. If your request wasn't approved or more information is needed, they'll work with you directly to obtain any information required to help make a decision about your loan. If you are purchasing a new home, the Loan Officer will also contact the real estate broker or the seller so that they'll know who to contact with questions.
Approved Applications *
If your application is approved, we'll ask you for a deposit to cover the cost of the appraisal on your home so that we can begin to process your request immediately. The application package will be sent to you and will contain papers for you to sign and a list of items we'll need to verify the information you provided about your finances during the online application. We'll order the appraisal from a licensed appraiser who is familiar with home values in your area. Depending on your finances and the loan amount requested, different types of appraisals are used. Sometimes the appraiser will need to view the home; sometimes they are able to do their evaluation from the street. Title insurance will be necessary. If you are purchasing a home, we'll work with the real estate broker or seller to insure the title work is ordered as soon as possible. If you are refinancing, we'll take care of ordering the title work for you. We'll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents.
* This is not a commitment to lend. All loans are subject to credit and property approval.
Sign Closing Paperwork
After we receive your application package, the appraisal, and the title work, we'll contact you to schedule your loan closing. If you are purchasing a home, we'll also schedule the closing with the real estate broker and the seller. The closing will take place at the office of a title company or attorney in your area who will act as our agent. A few days before closing your Loan Officer will contact you to walk through the final information.
Congrats! You're a Homeowner
That's all there is to it! Apply Now and you will be on your way to the most convenient home loan ever!