Steps to Getting a Mortgage Loan in Kentucky:
Pre-Purchase Consultation

Meet with your mortgage lender to discuss your financial situation, loan options, and what to expect during the mortgage process.
Gather Documents from Borrower and Issue Pre-qualification Letter

Collect required financial documents (such as income, tax returns, and credit information) to get pre-qualified for a loan.
Find a Home and Negotiate Contract

Once pre-qualified, start searching for a home and negotiate the purchase agreement with the seller.
Order Inspection, Appraisal, and Title

After securing a contract, order the home inspection, appraisal, and title work to ensure the property’s value and legal standing.
Review Loan Terms and Sign Initial Disclosures

Review the loan terms, interest rates, and other important details. Sign initial disclosures provided by the lender.
Submit Loan Package to Underwriting

Send all required documentation to the lender’s underwriting department for evaluation.
Clear Underwriting Conditions

Address any additional conditions or requirements the underwriter may request to approve your loan.
Final Approval Issued by Underwriting

Once all conditions are met, the underwriter gives final approval for the mortgage loan.
Closing Disclosure Review (3 Day Waiting Period)

Receive the closing disclosure, which outlines the final loan terms and closing costs. Review it carefully and wait for the mandatory 3-day waiting period before closing.
Closing Day!