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Process of a Mortgage Loan

Initiating the Loan Process

At Boiko Mortgage Company, we aim to make the mortgage process as seamless as possible for you and your family, and we pledge to do just that. The loan process is broken up into 6 parts:  

* The Documentation Stage
* The Appraisal Stage
* The Underwriting Stage
* The Conditional Approval Stage
* The Clear-To-Close Stage,
* The Closing Stage

We will walk through each stage with you, but in the mean-time, please feel free to take a look at each stage to get some general understanding of the process.

1) Documentation Stage:

During The Documentation Stage, there are a few documents we will ask for you to submit including:

*W2: From the last 2 years
*1040 Federal Tax Returns: From the last 2 years
*Two Most Recent Paystubs
*Two Most Recent Bank Statements 
*Copy of your drivers license

During this stage it is critical that you don't change any aspects of your financial picture including:

*No Major Purchases (i.e. purchasing furniture for your new home)
*No Applying for New Credit (i.e. obtaining financing for a car)
*No Change in Employment

2) Appraisal Stage: 

During the Appraisal Stage, a licensed 3rd party appraiser will estimate the value of the home you plan to purchase. This is done to make sure for both you and your lender that the home is worth the price that is being offered. An appraiser will usually determine your home’s value is by comparing it with recently sold homes in your neighborhood. The appraiser will not account for roof, appliances, air conditioning, plumbing, foundation, windows and floors. For this reason, we always recommend that our clients obtain a Home Inspection in addition to the appraisal. We are happy to recommend a reputable home inspector if you would like. Just ask!

3) Underwriting Stage:

During the Underwriting Stage, the Loan Processor will review the submitted documentation before turning it over to the Underwriting Department that will handle three very important tasks . These critical tasks include:

1. Organization: compiling and organizing your documents into a mortgage-ready file.
2. Qualification: reconstructing your scenario to ensure it meets all qualification requirements and guidelines.
3. Verification: making sure that all information is both accurate and authentic.


4) Conditional Approval

During this stage, you will receive the first sign that your mortgage loan is slated for approval, after initial review by the Underwriter. Approval will be valid if certain conditions are met which may include:
*Additional Documentation Letter of Explanation 
*Acceptable Appraisal Report

6) The Closing Stage:

It’s now time to sign your title documents and receive the keys to your new home. Congratulations! We did it!

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Boiko Mortgage Company (BMC)

About BMC

Let Boiko Mortgage Company (BMC) help you with all of your residential  lending needs. Whether your goal is to finance your new home or business or refinance an existing residential  property, BMC is the only stop you need to make. A dedicated and committed mortgage and loan professional, Ira Boiko has the knowledge and experience to help you through the loan process, find the terms that are right for your budget and make sure all the legalities are competently and expertly handled to ensure a smooth closing on a loan on your new or existing property.

Lets get started 

We will help you step by step 


About  Ira J Boiko 

Learn more about what we do

A longtime resident of the Coachella Valley, Ira has been a real estate broker for 28 years who puts the same time and expertise he puts into his own financial investments into the service he provides his clients, One size does not fit all, and Ira makes sure that he fully understands the needs and capacities of each of his clients in order to steer them in the right direction. Whether you have your eye on that dream home or business right now or you just want to explore your options for the future, Ira will sit down with you and together you can review your budget, income and savings to come up with a clear picture of not only what you may qualify for, but also the most affordable options for you. Whether you’re a first-time home buyer, looking to trade up, deciding to downsize, or simply wishing for a change, BMC can help. There are many factors to consider when getting a loan; interest rates are only one element of the complete package. Ira will help you consider all your options so you can concentrate on making the best decision for your needs. The financial aspects of home buying can be stressful and overwhelming—but they don’t have to be, not with a trained and caring professional like Ira Boiko in your corner. Contact Boiko Mortgage Company today and let’s get started.