Learn about the NYFTY Home Loan Process.
Explore how easy it is to secure a mortgage with NYFTY Lending’s streamlined, step-by-step process.
We Get To Know You
The first thing we do is time to learn about your current financial situation and future goals. This allows us to custom-tailor our lending solutions to fit your unique circumstances.
Landmarks:
- Initial Consultation
- Create Financial Profile
- Determine Lending Needs
- Credit Evaluation
- Employment Confirmation
- Debt Analysis
- Review Assets
- Determine Risk Tolerance
- Lend Advice
- Next Steps Planning
Gather & Review Documents
During this stage, we collect all documents needed for your loan, like tax returns, bank statements, and photo ID. Our team will review these in detail to make sure they’re accurate and complete.
Landmarks:
- Submit Key Documents
- Income Verification
- Banking Details
- Asset Documents
- Credit Report
- Determination & Liens
- Other Financial History
Process & Underwrite The Loan
Next, we process your application to determine loan eligibility and provide you with the best possible terms. We’ll help you explore each option and empower you to make an informed choice.
Landmarks:
- Application Evaluation
- Information Verification
- Debt-to-Income Ratio
- Risk Analysis
- Underwriting Assessment
- Terms Proposal
- Final Approval
- Notification of Decision
- Loan Commitment Letter
Issue Clear To Close and E-Close
Once approved, we mark you cleared-to-close, which means all conditions have been met and you can close your loan. With e-close, you can securely sign electronic loan documents at your convenience
Landmarks:
- Clear-to-Close Issued
- Final Document Review
- Document Delivery
- Confirmation of Terms
- Answer Questions
- Loan Signatures
- Funding Preparations
- Funding Transfer
Help With Final Steps
During the final phase, we guide you through post-closing tasks like understanding your repayment options and setting up automatic payments. Our support ensures a smooth transition into managing your new loan.
Landmarks:
- Loan Servicing Information
- Account Access
- Early Payoff Options
- Billing Cycle Review
- Late Payment Information
- Credit Reporting
- Title Vesting
- Insurance Requirements
- Tax Information
- Additional Resources
Welcome To Your New Home
Congratulations and welcome to your new home! Our team’s ongoing support helps you feel confident when taking the next steps to financial security.
Landmarks:
- Welcome Packet
- Loan Servicing
- Property Transfer
- Releasing Liens
- Settling Utilities
- Recording the Deed
- Title Insurance
- First Payment Letter
- Follow-up Support
- Homeowner Resources
Talk to a NYFTY Lending expert today about finding the perfect mortgage for you.
Ready to Go?
Apply Now
Have Questions?
Get Them Answered
Discover More Resources You’ll Love
Borrowing Is Better with NYFTY Lending
Find Your Loan Officer Today
Connect with a loan expert near you to get started.
