Where Do I Start?

The first step to purchasing a home is finding out how much you can afford to spend. This process is called pre-qualifying and is generally pretty simple. Oklahoma's home loan experts at Citywide will help you with every step along the way!

Step 1: Application

This can be completed on-line or in our office. Either way, here's some information you'll need to complete your application. If you are applying for your home loan with your spouse, we will need to know this from both of you.

• Current income
• Current assets (savings accounts, retirement accounts, investments, property, etc)
• Existing liabilities (car loans, credit cards, current mortgage, child support, alimony, etc)

Step 2: Supporting Documents

After you've completed your application, we will also need some supporting documents for you and your spouse. These can be delivered to our office, sent via email or faxed securely using the fax cover sheet provided upon completion of your on-line application.

• Complete copy of signed Purchase Agreement
• Copy of Driver’s License
• Copy of Social Security Card
• W-2’s for past two years
• Complete copy of past two years Federal tax returns
• Most recent pay stubs covering last 30 days
• Two most recent statements for all checking, savings, asset accounts
• Copy of cancelled earnest money check (front and back)
• Name, mailing address, telephone numbers for:
  1. Present and previous employers for past 2 years
  2. Landlords for past 2 years (if you are currently renting)
• Certificate of Eligibility or DD214 (VA only)

Depending on you application, additional documentation may be required.

Step 3: Follow Up

Your team consisting of a loan officer and processor will contact you with any questions about your application and to confirm receipt of the supporting documents. You will hear from your team of experts within one business day.

Step 4: Good Faith Estimate

Once your application is complete, your team will provide you with a good faith estimate that will include the amount of loan you qualify for, your estimated interest rate, estimated closing costs and other pre-paid items and estimated monthly payments.

Step 5: Underwriting

At this point, your team passes your application to our in house underwriting department. Underwriters verify that everything in your application is accurate and that the good faith estimate is an accurate response to your application. Ultimately, the underwriter, who works only on Citywide loans, is who will approve your application.

Step 6: Clearing Conditions

If there are any issues that need to be cleared up in order for your application to be approved, your team will let you know. This may involve verifying your employment, writing a letter of explanation about late payments or clearing up a past collection account. These are items that must be dealt with before you can close on your loan. Your team of home loan experts will guide you through this process and offer advice along the way.

Step 7: Closing

Once your application is approved and you've cleared any conditions of approval, you can then find the dream home that fits your budget and close on the loan. Your Citywide team and Realtor will work together to schedule the time for the closing which will typically take place at a title company. At your closing you will sign the paperwork that finalizes your loan.