The Loan Process


Not a fan of complicated loan processing? Neither are we. That’s why Waterstone Mortgage is lending simplicity to today’s loan experience. Our process is designed to keep your loan application on schedule for a smooth closing. As we hit the major milestones during the process, we’ll provide you with clear, timely communication on the status of your loan application.

Our step-by-step process is below:

  • Your loan application is completed and all pre-qualification checklist items are collected
  • Waterstone Mortgage orders your credit report and gathers any additional necessary documents
  • Waterstone Mortgage issues a pre-qualification letter and you begin your home search with a professional Realtor®
  • Your Realtor® presents an offer on your behalf for the home you have selected – the offer is accepted and the closing date is set
  • Your loan originator meets with you and a loan program is selected based on your financial goals and needs
  • Waterstone Mortgage orders the appraisal, title report, and other necessary documents
  • Waterstone Mortgage submits complete file to underwriter for final loan approval
  • Final approval is issued. Any final conditions are collected and satisfied
  • Loan is clear to close and closing documents are sent to the title company
  • Waterstone Mortgage sends you a copy of the closing disclosure for you to review in advance
  • Congratulations! You attend the scheduled closing and become the owner of your new home
  • Waterstone Mortgage stays in touch and helps you with any future financing needs

The process described above is intended as general guidance. All loans are subject to credit approval and loan program guidelines.