The Loan Process
NetCORE Lending™ guides you through every step of the mortgage process — from pre-qualification to closing day.
What Kills a Loan Between Pre-Approval and Closing?
Your pre-approval is a snapshot. Underwriting takes a second picture right before closing: credit, job, and bank accounts. About 1 in 15 buyers gets denied after pre-approval, and almost every case was avoidable.
5 Things That Kill Your Loan Between Pre-Approval and Closing
Financing anything new
A car, furniture, or a store card for appliances raises your debt-to-income ratio. A file approved at 44% can be denied at 47% when credit is re-pulled before closing.
Changing jobs
Employment is re-verified within 10 business days of closing. A new job on probation or a switch from salary to commission can kill the file. If you must switch, call us first.
Mystery deposits
Any deposit larger than about half your monthly income must be sourced with a paper trail. Cash from a relative or a side-hustle payout that cannot be documented does not count.
Moving money around
Shuffling between accounts, paying off a card, or closing an old one creates questions underwriting has to answer. Keep your accounts boring until you have keys.
Co-signing or a late payment
Co-signing adds someone else's payment to your DTI, and one 30-day late during the process can drop your score below the program minimum. Put everything on autopay.
Bonus: going quiet
When we ask for a document, we need it that day. About 13% of closings get delayed, and a delay can cost your rate lock or the house.
Before you shop, we walk you through this list. If anything changes, text us and we fix it before underwriting finds it.
Pre-Qualification
We assess your income, debts, assets, and credit history to determine how much you can afford. No credit pull required.
Mortgage Options and Interest Rates
We review fixed vs. adjustable rate options and match you with the right loan program for your goals.
The Application
You provide your full name, income, assets, Social Security number, current address, property value, and desired loan amount.
The Loan Estimate
Within 3 business days of your application, you receive a 3-page document showing estimated interest rate, monthly payment, and total closing costs.
The Intent to Proceed
You have 10 business days to indicate your intent to proceed after receiving the Loan Estimate.
Processing
Three key items are ordered: your credit report, the property appraisal, and the title report.
Requested Documents
You submit W-2s (2 years), recent pay stubs, bank statements (2 months), and additional asset documentation.
Credit Reports
FICO scores from three bureaus are reviewed, examining payment history, outstanding debts, length of credit history, and new inquiries.
The Appraisal
A licensed appraiser assesses the property's market value to ensure the loan amount is appropriate.
Conditions
The loan enters conditional status. All conditions must be satisfied prior to document preparation and funding.
Underwriting
The underwriter performs a final review of all documentation, creditworthiness, and property value before issuing approval.
Title Search / Insurance
A title company examines property records for liens, encumbrances, and ownership disputes. Title insurance protects both buyer and lender.
Closing Disclosure
A 5-page form is provided at least 3 business days before closing, showing final loan terms, projected payments, fees, and closing costs.
Closing
You sign all documents, the loan is funded, the deed is recorded, and the keys are handed over. Congratulations!