What can you expect from the mortgage process at MidAmerica Bancorp, Inc.? We offer a fast, easy application process, moving you quickly through each step to close on your new home.
Schedule your free consultation.
The process starts when you give us a call at (708) 237-4050 to schedule your free consultation.
We answer your questions and explain your loan options.
During your free consult, we will have a chance to discuss your mortgage requirements in-depth.
This is when you can ask your questions about home loans, share your goals with us, and tell us about any obstacles that concern you.
We also will take this opportunity to introduce you to the different loan programs we offer and their benefits.
Before your consultation ends, you will have the detailed information you need to make an informed choice about a mortgage.
You fill out your application.
After you choose the type of home loan you want, you can submit your application along with your documentation.
In most cases, you will need to provide employment papers and tax documents like your W-2. But we do offer bank statement loans and no income verification investor loans in case you need an alternative loan process.
Appraisal and underwriting take place.
At this stage, you can focus on your home search while we take care of the appraisal and underwriting. We may ask you for additional documentation at this time.
You receive conditional approval.
We will now give you a loan commitment with conditional approval.
We submit pending documents.
In some cases, additional documentation is required in order to complete the final underwriting review. We will let you know if we need anything more to finish the process.
The underwriter issues final approval on your mortgage.
After you have met all conditions for final approval and the underwriter has finished work, you will be granted final approval on your home loan.
Now it is closing time.
The moment you have been waiting for has arrived—closing time! After completing the last of your paperwork and paying any closing costs that are due, you will be able to finalize the sale. The keys to your home are now yours!
MidAmerica Bancorp, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.