My philosophy
for working with you
Here’s what you need to know about the mortgage industry:
One large lender is promoting a tool, that doesn’t require you to interact with a human to make one of the biggest financial decisions of your life.
I believe you deserve better. And I’ve spent nearly 20 years providing my clients with the guidance they need so they don’t just get a loan — they get the right loan.
You see, the mortgage process isn’t quite as simple as the ads make it seem. It takes knowledge and experience to navigate, particularly in a competitive real-estate market, where the right combination of speed and expertise can make the difference between a successful offer and losing out on your dream home.
My clients, many of whom are first-time homebuyers or have run into resistance from other lenders, always know where they stand in that complex process. That’s because I take the time to explain their options, so they can make an informed, confident decision. And most of them would even say that I’m an advisor and advocate first and a mortgage professional second.
The
loan process
What you'll do for me
What I'll do for you
Step 1 Pre-Approval Meeting
You’ll bring your income and asset documentation to our first meeting and come armed with all of your questions - I am happy to answer them.
Step 1 Pre-Approval Meeting
I will Interpret your need and answer your questions. Then I’ll take your loan application. We’ll also organize your paperwork into a physical loan file.
Step 2 Formal Pre-Approval
If you have any lingering questions, this is when I'll answer them. Then you’ll contact an agent to start your home search.
Step 2 Formal Pre-Approval
I'll enter all of the information from step 1 into my software and put together a loan file for your transaction and make sure all your bases are covered. I'll send a fee worksheet, a loan estimate and pre-approval letter to you for review, and coordinate with your real estate agent.
Step 3 Send Loan Application to Client
When you’ve found a home and are in mutual acceptance on a purchase contract, you’ll send me your purchase contract and updated paperwork so we can update your file.
Step 3 Send Loan Application to Client
I’ll update your paperwork and send the application to you for signing. Then we’ll consult on locking in or floating your interest rate.
Step 4 Sign Application
At this point you’ll electronically sign the application and sign the Social Security Authorization Form and 4506-T forms by hand that I send you.
Step 5 Lender Sends Disclosure Documents to Client
You’ll electronically acknowledge the loan estimate, the intent to proceed and other forms the lender sends you via e-mail.
Note: Step 4 and Step 5 may be combined depending upon the specific lender
Step 6 Loan Submission
I’ll submit the full loan package to the lender for underwriting.
3-Day Waiting PeriodDepending upon the specific lender, the 3-day waiting period may not apply.
Step 7 Order Appraisal
Once your home inspection has been completed (if you choose to get a home inspection) and the 3-day waiting period is over (if applicable), and you’ve competed the signing of your loan application, I will submit the full loan package to the lender for underwriting and order an appraisal for your transaction.
Step 8 Conditional Approval / Condition Gathering and Clearing
At this stage, the lender issues the initial or conditional approval and you’ll provide any documentation or paperwork I request for the conditional approval.
Step 8 Conditional Approval / Condition Gathering and Clearing
I’ll coordinate with you on any outstanding prior-to-document conditions, and submit any outstanding conditions to the lender.
Step 9 Appraisal Arrives
You’ll review the appraisal and I’ll respond with any questions or comments you may have.
Step 9 Appraisal Arrives
I’ll transmit the appraisal to you and the lender for review.
Step 10 Funds-to-Close
This is the stage where the loan is officially or finally approved and we can proceed to closing.
Step 10 Funds-to-Close
I’ll request the Preliminary Closing Disclosure from the lender and coordinate with you and the escrow company on the final figures or funds to close.
Step 11 Sign or e-acknowledge Preliminary Closing Disclosure
You’ll review, sign and/or e-acknowledge the preliminary closing disclosure which will outline the final figures for your funds to close.
3-Day Waiting Period
Step 12 Request Documents from Lender
At this step, I’ll request documents to be sent to escrow for signing and coordinate with the escrow company on available signing appointment times for you.
Step 13 Set up Signing Appointment
I’ll work with you and the escrow company on the signing appointment, and coordinate the final funds-to-close.
Step 14 Coordinate with Escrow on Signing Appointment
You’ll coordinate with the escrow company on a signing appointment and providing the escrow company your funds-to-close.
Step 15 Sign Loan Documents
You’ll sign the loan documents at escrow or through a mobile notary service.
Step 16 Final Lender Review of Signed Documents
The signed documents will go back to the lender for final review.
Depending upon the specific lender Step 15 and Step 16 may be combined into one step.
Step 17 Final Funding
You’ll get your keys to your new home and do the happy dance!
Step 17 Final Funding
I’ll coordinate the final funding conditions with escrow and the lender.
What you'll do for me
What I'll do for you
Step 1 Refinance Planning Meeting
You’ll bring your income, asset documentation to our first meeting and come armed with all of your questions - I am happy to answer them.
Step 1 Refinance Planning Meeting
I will Interpret your needs and answer your questions. Then I’ll take on your loan application. We’ll also organize your paperwork into a physical loan file.
2 File Creation - Pre-approval for Refinance
If there are any lingering questions about your particular situation, at this point I will get in touch with you and we will work through those questions together.
Step 2 File Creation - Pre-approval for Refinance
I'll will enter all of the information from step one into my software and put together a loan file for your transaction and make sure all your bases are covered. I'll send a fee worksheet and a loan estimate for your review and answer any lingering questions you may have.
Step 3 Send Loan application to Client
I’ll update your paperwork and send the application to you for signing. Then we’ll consult on locking in or floating your interest rate.
Step 4 Sign Application
At this point you’ll electronically sign the application and sign the Social Security Authorization Form and 4506-T forms by hand that I send you.
Step 5 Lender Sends Disclosure Documents to Client
You’ll electronically acknowledge the loan estimate, the intent to proceed and other forms the lender sends you via e-mail.
3-Day Waiting PeriodDepending upon the specific lender the 3-day waiting period may not apply.
Step 6 Loan Submission
Once you’ve competed the signing of your loan application I will submit the full loan package to the lender for underwriting.
Step 7 Conditional Approval / Condition Gathering and Clearing
At this stage the lender issues the initial or conditional approval and you’ll provide any documentation or paperwork I request for the conditional approval.
Step 7 Conditional Approval / Condition Gathering and Clearing
I’ll coordinate with you on any outstanding prior-to-document conditions, and submit any outstanding conditions to the lender.
Step 8 Appraisal Arrives
You’ll review the appraisal and I’ll respond with any questions or comments you my have.
Step 8 Appraisal Arrives
I’ll transmit the appraisal to you and the lender for review.
Step 9 Funds-to-Close
This is the stage where the loan is officially or finally approved and we can proceed to closing.
Step 9 Funds-to-Close
I’ll request the preliminary closing disclosure from the lender and coordinate with you on the final figures or funds to close.
Step 10 Sign or e-acknowledge Preliminary Closing Disclosure
You’ll review, sign and/or e-acknowledge the preliminary closing disclosure which will outline the final figures for your funds to close.
3-Day Waiting Period
Step 11 Request Documents from Lender
At this step I’ll request documents to be sent to escrow for signing and coordinate with the escrow company on available signing appointment times for you.
Step 12 Set Up Signing Appointment
I’ll work with you and the escrow company on the signing appointment, and coordinate the final funds-to-close.
Step 13 Coordinate with Escrow on Signing Appointment
You’ll coordinate with escrow company on a signing appointment and providing the escrow company your funds-to-close.
Depending upon the specific lender Step 11 - 13 may be combined into one step.
Step 14 Sign Loan Documents
You’ll sign the loan documents at escrow or through a mobile notary service.
3-day waiting period for owner occupied refinances - 3-day waiting period does not apply for non-owner occupied refinances.
Step 15 Final Lender Review of Signed Documents
The signed documents will go back to the lender for final review.
Step 16 Final Funding
You’ll do the happy dance!
Step 16 Final Funding
I’ll coordinate the final funding conditions with escrow and the lender.
Set up
an appointment
The proof is in the mortgage pudding
it's not just what I think...
Mike is terrific! His follow up and responsiveness is second to none! I've worked with Mike twice now, and will continue to utilize his services moving forward!
rickwalden75
Mike explained to us in extremely great detail how loans work, buying points, closing costs and everything else you'd ever need to know about financing. We shopped around and no one else bothered to take the time to explain to us how it all worked.
kirklander
Although I have purchased homes before, I never 100% understood how interest rates and loans worked. Mike took the time to break it down for me and explained everything in a way that was easy to understand.
heatherkeiffer
If refinancing is in your near future then I highly recommend seeking Mike Carpenter to help save you some serious $$$. Along with being extremely knowledgeable, he was able to answer all my questions with an immediate response via text or ...
Kris Ladines
yelp
zillow
An investment in knowledgepays the best interest
further reading and video information
