Mortgage Process

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.


Speak Directly with a Mortgage Consultant

To fill out an online application, click here, or to speak directly with a mortgage consultant, please call us at 312.642.7979, or email us at info@cfsmortgage.com.

A mortgage consultant will contact you within regular business hours.