The first step to your new home loan is the application. With this basic information in hand, our mortgage experts will work with you to determine the right loan for you. There are many different things to consider when choosing your new loan type, and we’re here to help. You may complete your application online, over the phone or in person at any of our nationwide mortgage offices. Once your application is submitted, you’ll want to start gathering important documents such as recent pay and bank statements.
Processing & Underwriting
All loan processing and underwriting occurs in-house at TIAA Bank. This streamlines our operations and can work to your advantage by helping to get you to closing sooner. During this time, our teams will work with you to ensure that all paperwork has been submitted and that everything is in order for a final approval of your new loan. We adhere to stringent lending policies that keep us on solid financial ground and instill confidence in all of our lending clients.
Loan approval is clearly a very key step in the process and comes from our in-house underwriting team. Once approved, your mortgage expert will be in touch to deliver the good news and to schedule your closing date. If you are buying a new home, this is the time to start contacting utility providers at your current residence and the new one about service and address changes.
The final and most exciting step is the closing. This is where you’ll get the keys to your new home and sign a variety of legal and other documents including your new mortgage. If you are closing on a new home purchase, various other people may attend the closing, including attorneys, real estate professionals and your seller.