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Mortgage process

Here's a step-by-step explanation of the home mortgage process from start to closing at Quontic Bank.

  • Prequalification: No documentation needed. Provide desired loan amount, income & savings for analysis.
  • Find a home: Assess your wants & needs then let your real estate agent help you find the perfect home.
  • Contract: Review & sign your contract of sale with your real estate attorney. Provide down payment check.
  • Application process: Upon receipt of the fully executed contract of sale, provide all necessary documentation & sign mortgage application & disclosures.
  • Appraisal order: Your appraisal is ordered usually within 48 hours of your application being submitted to processing.
  • Processing: Receive your “Welcome Package” email. Processor completes all verifications for credit, employment & assets.
  • Appraisal report: Received & reviewed! Processor updates you of outstanding conditions pending loan approval.
  • To underwriting!: Processor submits file to Underwriting Department for final review & Commitment Letter. The CL issued & sent to you & your attorney for review.
  • Title report: Your attorney submits the title report to the bank attorney for review & clearance.
  • Homeowners insurance: Copy of appraisal & mortgage clause provided to you to secure homeowners insurance.
  • Clear to close!: Submit all closing conditions for final clearance.
  • Schedule closing: You & your attorney are notified the loan is clear to close. Date is scheduled by the attorneys and bank.
  • Final walk-through: Borrowers do a final walk-through of the property to approve condition of the house prior to signing.
  • Closing: All parties sign closing documents with the bank attorney. Certified check instructions provided prior to closing.
  • Post closing: Contact all utility companies. Begin the process of grieving your property taxes & if applicable apply for the NYS STAR program (New York state residents only).

Questions?

For more information, speak to your Quontic Bank loan officer. Call 1-800-908-6600.

Ready to borrow? Get started now or find a loan officer near you.

PREQUALIFY NOW

Other resources

Fixed rate mortgages
Adjustable rate mortgages
Portfolio loans
'Lite Doc' loans (No tax returns needed!)
Foreign Nationals (Limited income verification!)
Condos & co-ops (New & non-warrantable OK!)
Jumbo & super jumbo
FHA loans (Low minimum down payment!)
VA loans
Reverse mortgages (Cash-out or home purchase)
Commercial Real Estate portfolio loans
First Home Club (Receive up to $7,500 toward your first home!)
Mortgage checklist
Prequalify now

Disclosure: Ask for additional details. Subject to eligibility & further review. Not all products are available in all states or for all amounts.


"I'm looking forward to continue working with Quontic Bank and with Andrew Fuchs in particular. I highly recommend him!!" said Dani Kates, a Quontic Bank mortgage customer.

Yingchan Weng
Quontic Bank loan officer Yingchan Weng with mortgage customer Brian Zhang.

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