Home Mortgage Loan Officer serving the lending needs of clients nationwide from the comfort of the Midwest.
I can see your house from here!
Advocating for homeowners and aspiring homeowners since 2012.
My goal is helping to make your largest purchase decision as informed and straightforward as possible.
The mortgage process can be challenging. With communication, personalized options, and strategic debt management these challenges can be overcome.
From first consultation to closing, this is all in the effort, to help you feel confident and comfortable along the path of financing the place you call home.
Contact Me
1818 W Fulton St. #101
Rapid City, South Dakota 57701
Clay.Schwahn@granitebank.com
605-391-7172
Home Loan Process
Application/Prequalification
Initial application or consultation. This is where you tell me about yourself. What your goals are and provide paperwork documenting your income and assets. Remember there are some low and no downpayment options.
A good list to start will be:
Driver’s License, Most recent 2 years W2’s and Tax Returns, 2 months bank statements, Paystubs covering most recent 30 days
Then I get to work. I will dive in and run the numbers on what you would be able to qualify for and show you several different breakdowns of available loan options
Home Shopping/Accepted Contract
Approval/Closing
This is the exciting part. You and your trusted real estate agent will find a home that fits your needs and also fits your budget. I am available to run numbers on homes you are considering to help you feel confident when you make an offer. Remember that buyers rarely pay realtor commissions as this is most often negotiated with the agent the seller chose to list the home.
When you have an accepted offer I will officially get your loan started. This means some intial disclosure documents that are required by regulators as well as a detailed cost breakdown of payment/rate/costs.
This is where you will make a decision to lock or float your rate based on your timeline and market conditions. We may need to update a bank statement or paystub and this is where you will decide on who you would like to use for homeowner’s insurance.
Since we gathered documents, earlier underwriting should go smoothly. Expect about 3 business days. If anything, else is requested, I will be sure to reach out.
Appraisal/Processing/Underwriting
CLEAR TO CLOSE! Finish packing and get ready for the big move. We are almost done.
Prior to closing your lender will provide you with the final numbers. The final closing disclosure that goes over your final payment now that homeowner’s insurance has been finalized and all invoices are in. Don’t expect any terrible surprises as these will be very similar to the numbers provided after your accepted offer.
The finish line- you, your realtor and I will all meet at the title company and guide you through the final closing docs
After closing I will periodically check in and reach out for an annual review of your mortgage and your real-estate goals.
