Loan Process

1. Starting – After completing your online application you will be contacted by a Southwest Direct Mortgage Customer Service Representative – within 24 hours during the weekday or on Monday if your application is submitted over the weekend.

Our Customer Service Representatives are available 12 hours a day to assist you with any questions or concerns you may have.

2. Qualifying – Your credit will be accessed to verify that you qualify for the loan program you selected.  Upon qualification, your interest rate will be locked in.

If you do not qualify for the particular loan program of your choice, Southwest Direct Mortgage will suggest alternative loan programs.

3. Documentation – When all parties are in agreement, the appropriate forms that are needed for completion of the process can be downloaded from our web site or mailed to you for signature via overnight mail.

At this time you will also be given a list of documents that you will need to collect to complete the application process. These documents will include, but are not limited to, income documentation, insurance, previous notes, etc. Once all the required paperwork has been gathered and signed, you will need to return them in the overnight envelope provided.

A toll free fax number is also available to send documentation at your convenience. Please ask your Mortgage Specialist for this number.

4. Appraisal and Title Commitment – Once the signed documents are returned, the appraisal and title commitment will be ordered.

The appraisal will be completed and forwarded to Southwest Direct Mortgage for final approval.

5. Approval – Your loan will be submitted for approval at this time.  Once approval is given, you will be notified of any changes or modifications to the loan program that you have chosen. All changes will be posted on the web site for your review as well as any other terms that must be met.

At Southwest Direct Mortgage, you have 24-hour access to your assigned Customer Service Representative.

6. Loan Closing & Funding – Once the final approval has been given and all conditions have been satisfied, your Customer Service Representative will set up an appointment for closing at your local title company.

You will be informed of your closing date, time, documentation you must bring to the close meeting, and where and when to pick up the proceeds of your loan.

7. Final Step – After your loan is closed and funded Southwest Direct Mortgage will continue to provide you with loan and mortgage support.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclosure of Licensing:

  • Arizona – Michigan Mutual, Inc. dba Southwest Direct, 11672 East Shea Blvd, Scottsdale, AZ 85259, Mortgage Banker License #0938474
  • California – Licensed by the Department of Corporations under Finance Lenders Law License (License #603I216)
  • Colorado – Michigan Mutual, Inc, 800 Michigan Street, Port Huron, MI 48060 (800) 700-5839 ; To check the license status of your mortgage broker, visit http://www.dora.state.co.us/real-estate/index.htm
  • Washington – Licensed by Department of Financial Institutions (Consumer Loan Company License #CL-12901)
  • Michigan Mutual, Inc. Nationwide Mortgage Licensing System (NMLS) Number: 12901
    https://www.mimutual.com/tools/disclosureoflicensing.aspx
  • Michigan Mutual, Inc ,dba MiMutual Mortgage, dba Southwest Direct