1. Contacting Equitystars,
Inc.
We are open from 8:30AM to 8:00PM Monday through Friday and 9:00AM to 12:00PM
on Saturday, so if you have any questions or need an interest rate quote,
call 877-912-7000. Our highly experienced loan originators will be
happy to assist you in finding the loan program that best fits your borrowing
needs. Our staff is trained to give you honest and straightforward
answers that make borrowing as anxiety free as possible. Whether you
would like to obtain a Good Faith Estimate, be Pre-Appoved or submit a Pre-Qualification,
Equitystars will provide all necessary information over the phone,
fax or e-mail to accommodate your schedule. You can check the status
of your loan application with us 24 hours a day, 7 days a weeks on our web
site.
2. Applying For A Loan With our web site, there
is no need to drive to a loan office any longer. Simply submit your
application by phone (877-912-7000) with one of our originators. This
process is simple and will take only 3 minutes. You can also apply
on-line or via fax. Whichever way you choose to apply, Equitystars will handle your application in a prompt and friendly manner.
A loan officer will review your income and equity position with you to quickly
determine if the loan you are looking for is possible so there is no wasted
time on your part! Best of all, Equitystars does not
charge any application fees!
3. Application Documents Within 24 hours of
your application, you will be sent complete documentation relating to your
loan, most of which will already be completed, for your signature as required
by federal and state laws. The package will contain a Good Faith Estimate
of Settlement Charges, Federal Truth-in-Lending Disclosure Statement and
a list of any other documentation that we may need for your specific loan.
A self addressed business reply envelope with be provided for return mail.
Of course, you can also fax the information directly to us as well.
4. Processing Once our office receives the
required paperwork back from you, an appraiser will contact you to schedule
a convenient time for the review of the property. Our processor will
review the documentation for completeness and contact you should any information
be missing or incomplete. We will contact a Settlement Agent to order
the needed title work on the property.
5. Underwriting The decision to approve or
deny your loan takes 1-2 days, depending on the complexity of your application.
Equitystars provides loan programs to cover virtually every
individual circumstance. During this process, if any questions or
issues arise, you will be immediately contacted to review these issues.
Communication is very important to us, so if you have any questions or concerns,
do not hestitate to contact us.
6. Closing and Funding Once your loan is approved,
we will have the Settlement Agent contact you to schedule the best time
to attend the closing. We prepare all necessary closing documents
and send them to the Settlement Agent. The Agent will review all the
documents with you and provide copies of the executed documents for your
records. The Agent will disburse all the funds to pay the seller of
the house or, in the case of a refinance, the checks to payoff your existing
mortgage and any other debts being paid off. The Agent will also provide
you a coupon statement that you will use to remit your monthly mortgage
payment pending the receipt of your coupon book.
