What to Expect

We've built the most convenient home loan service ever!
Here's what to expect during a mortgage process with us:

 

Online Application

You'll complete your online application

When you apply online for a Quorum mortgage, you’ll need at minimum the following information in addition to your personal identification:

  • Loan amount
  • Estimated value/purchase price
  • Your income and asset information
  • Your monthly obligations
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Approval

A Loan Officer will be assigned to you

We will email you to confirm receipt of your application. A Loan Officer will call you within 2 days to review your application and verify the information you provided. We will also discuss:

  • Our Loan Products
  • Loan Scenarios
  • Your Credit Report
  • Rate Lock Process
  • Closing Costs (GFE)
  • Loan Process

 

Your Loan enters our approval process

Your application will be reviewed by the Mortgage Underwriter for approval. Upon approval, we will send you the following documents and review them with you:

  • Mortgage Commitment Letter
  • Loan Conditions
  • Disclosures (Good Faith Estimate, Truth In Lending)
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Rate Lock and Fees

Lock your rate and pay the application and other fees

When you’re ready to lock in a rate, you will be required to pay the application & appraisal fees, which can be debited from your Quorum account or a credit card.

Click here to view our fee schedule.

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Processing

Your loan is being prepared for closing

Your loan is in process. A Loan Processor will assist you with clearing your loan conditions. The Loan Processor will order the Appraisal. Our appraisal vendor will contact you to schedule an appraisal.

 

Satisfy your loan conditions

You’ll need to provide the following documents to satisfy your loan conditions. Don’t worry, we’ll help you through this:

  • Income Documents
  • Assets
  • Home Owners Insurance (HOI)
  • Title (if applicable)
  • Contract of Sale (if applicable)
  • Verification of Gift Funds (if applicable)
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Closing

You're ready to close!

Once your loan conditions are met, we’ll call you to schedule a closing date. You will receive a copy of the preliminary HUD-1 for review and to make necessary arrangement for the funds required for closing. You have the option of bringing a certified check or wire transfer funds from Quorum to the closing.

Learn more

APPLY ONLINE

Questions?

Call (855) 436-3588 to speak with a mortgage expert.

To view the full mortgage process in PDF, click here.