About
Long 100
Your Mortgage Journey Starts Here

Navigate the mortgage process with confidence. Understanding each step helps you feel comfortable and spot any issues early. Most loans close in 4-10 weeks, with some qualifying loans closing in as little as 30 days.

Step 1
Apply for Your Loan

The application process involves filling out forms, signing authorization documents, and submitting required documentation like bank statements, pay stubs, and W2s. Everything is handled electronically for your convenience.

Step 2
Mortgage Processing
01
Document Verification

Processor validates all information for accuracy and completeness.

02
Third-Party Validation

Verification requests sent to employers, landlords, and lending institutions electronically.

03
Appraisal & Title

Property appraisal and title policy are ordered during this phase.

04
Package Preparation

Complete file packaged per lender specifications and sent to underwriting.

Processing Timeline
1
Standard Processing

1-2 weeks for traditional loan processing

2
Automated Systems

3-5 days with DU or LP qualification

3
Potential Delays

Third-party responses or appraisal delays may extend timeline

Desktop Underwriting (DU) and Loan Prospector (LP) are automated systems that can cut documentation requirements in half, significantly speeding up the process depending on processor volume.

Be Responsive to Document Requests
48-Hour Rule

All document requests must be completed and submitted within 48 hours of notification.

Work Closely With Your Processor

Your assigned processor ensures your loan closes on time. Quick responses are essential.

Avoid Delays

Failure to respond promptly can impact your closing date and result in rate extension fees.

Step 3
Mortgage Underwriting

The underwriter reviews your complete loan package to ensure it conforms to all guidelines. They examine the appraisal, title report, and may conduct additional validation of employment, mortgage payments, and credit.

Underwriters have ultimate decision authority over loan approval. Processing time depends on market volume: up to two weeks during heavy periods, or 3-5 days under normal conditions.

Automated Underwriting Advantage
Computer Decision

Automated system makes approval decisions quickly and efficiently.

Less Documentation

Reduced paperwork requirements speed up the entire process.

Streamlined Review

Underwriter only reviews supporting documentation and appraisal.

Step 4
Conditions To Close
1
Underwriter Review Complete

Conditions sent to processor

2
Additional Documentation

Requirements for supporting files

3
Needs Satisfied

All conditions met

4
Final Approval

Clear to close issued

Conditions to close are typically requirements for further documentation to support your file. Once these needs are satisfied, the underwriter gives final approval and clears the loan to close.

Step 5
Clear To Close
Scheduling Your Closing

Once the processor receives clear to close, they coordinate with all parties to schedule the time and location for signing final documents. This scheduling process normally takes just one hour.

Document Preparation

The lender draws the document package and sends it to the closing company via overnight delivery, fax, or electronically. This takes 1-2 days.

What Happens at Your Closing?

Closing is the final step in the home-buying process where all parties finalize the transaction by exchanging signatures, checks, and ultimately, house keys.

Sign Documents

Review and sign all final paperwork with the closing agent.

Exchange Funds

Final payments and checks are processed and verified.

Receive Keys

Pick up your keys and officially become a homeowner!

Loan Type Variations
Second Mortgage

With good credit and equity, appraisal may not be required. Faster processing possible.

Line of Credit

Equity-based lines can be completed in weeks with some lenders.

Automated Processing

DU or LP qualified loans can close in less than 60 days, sometimes as little as 30 days.

Different loan types require different documentation. Your loan originator will walk you through the specific process for your loan type so you know exactly what to expect.

We Will Find the Right Mortgage For You

New Mortgage – Where mortgages are only the beginning

Address

New Mortgage

3284 Pond Springs Road, Ste 405, Austin, TX 78729

MLO License Info

Zendo LLC dba New Mortgage

NMLS# 275971

Winnie Wu | NMLS# xxxxx