What to Expect
FDIC-Insured – Backed by the full faith and credit of the U.S. Government
The application will ask you questions about the home and your finances and takes less than 20 minutes to complete. As soon as you’ve finished the application we’ll review your request. If your application is complete we’ll then ask you for a deposit to cover the cost of the credit report fee so that we can begin to process your request immediately.
After your application is completed, a Loan Officer will contact you to introduce themselves and to answer any questions you may have. Your Loan Officer is a mortgage expert that will provide help and guidance along the way.
If you are purchasing a new home, the Loan Officer will also contact the real estate broker(s) or the seller(s) so that they’ll know who to contact with questions.
The application package will be sent to you and will contain papers for you to sign and a list of items we’ll need in order to verify the information you provided about your finances during the online application.
We’ll order the appraisal from an approved Piedmont Federal Bank appraiser who is familiar with home values in your area. The appraiser will schedule an appointment to view the home and will need access to the interior of the home as part of the appraisal process.
Title insurance will be necessary. If you are purchasing or refinancing a home, we’ll work with your attorney to ensure the title work is ordered as soon as possible. We’ll use the title opinion to confirm the title status of the home and verify any outstanding liens against the property as part of the process in preparing for closing and generating the closing documents.
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.
Your loan officer will send you the closing disclosure at least 3 business days prior to closing. A few days before closing your Loan Officer will contact you to walk through the final information.