Chicago Financial Services

I Need a Mortgage. Who’s your Mortgage Guy?

At some point, most homeowners get a question from a friend or relative looking to purchase a home or refinance.

“I Need a Mortgage.  Who’s your Mortgage Guy?”

We want to be your mortgage guy or gal.  The mortgage business is all about referrals.  We need our buyers to spread the word about CFS Mortgage. We love to hear “I need a mortgage.”

We value your business and sincerely thank you for trusting us with the financing of your home.  Our clients’ continued success and happiness are important to us.

We could use your help spreading the word about CFS Mortgage.  Please take a moment to review CFS Mortgage.  It helps us a great deal when our customers can share their experiences with others:

 

If you have a Facebook account:

Click here to write a review on Facebook

 

If you have Zillow account:

Click here to write a review on Zillow

 

If you have a Google+ account:

Click here to write a review on Google+

 

If you have a Yelp account:

Click here to write a review on Yelp

 

Let’s talk if you have any questions about home financing. Please call us at 312.327.9979, or email us at info@cfsmortgage.com.

So, if I need a mortgage

If you need a mortgage, the process basically works like this:

Mortgage Process from Application to Closing

There are five phases to getting your loan closed. Your CFS mortgage consultant will be in contact with you during the entire mortgage process.

  1. Application
  2. Automated Approval
  3. Processing
  4. Final Approval
  5. Closing
1. Application

Your mortgage application can be made over the phone, in person, or online. Be sure to provide detailed information about your annual income, current assets and liabilities, and property value. Your CFS mortgage consultant will help pick the loan product that best suits you and your financial needs.

2. Automated Approval

Your initial application will be submitted electronically to Fannie Mae or Freddie Mac for preliminary approval. Your findings will be produced within minutes.

3. Processing

Internal processing of your loan will take place at CFS. We collect the necessary information that an underwriter needs to review your completed file. Bank statements, pay stubs, W2’s or tax returns, title commitment, appraisal, flood certificates and other important items will need to be provided to the underwriter for final approval.

4. Final Approval

The underwriter will review and validate the information that Fannie Mae or Freddie Mac has electronically requested and will issue a final approval.

5. Closing

A closing will be scheduled with a Title company. At this time, the legal documents are signed by the borrower, which creates an obligation to repay the loan. In a purchase transaction, the seller conveys ownership to the buyer with a deed. An attorney is recommended to assist in the review and explanation of legal documents. For your convenience, CFS is able to schedule a closing for refinances at your home or office.