The Mortgage Process

Starting the Mortgage Process Early is Beneficial for Buyers.

The Mortgage Lending team at Summit Bank & Trust highly recommends that all homebuyers (including Colorado first-time homebuyers, repeat homebuyers, second home/investment homebuyers, and out-of-state homebuyers) start the mortgage process early – even before beginning to shop for a home. Starting this process early helps buyers understand what they can comfortably afford, which mortgage programs they are likely to qualify for, their options for down payment amounts, and the optimal sales price range in which to shop. Starting the mortgage process early also helps with the early identification of any credit errors that may need to be corrected and establishes our clients as credible home buyers in the eyes of the seller.


From your initial consultation through the day you get the keys to your new home in South Denver, your Summit Bank & Trust Mortgage Loan Officer will be working diligently behind the scenes to clear any obstacles that may arise and ensure you have a pleasant experience and on-time closing. Proactive communication, responsiveness, and availability during and after hours further add to the high level of service that sets the Summit Bank & Trust Mortgage Lending Team apart from other mortgage providers.


Review the stages of a Standard Mortgage Loan Process below, and contact your Summit Bank & Trust Mortgage Loan Officer today for more information and a free, no obligation mortgage consultation.


The stages of a standard mortgage loan process:


1. A consultation between the prospective homebuyer and a Mortgage Loan Officer is held. An exchange of information about mortgage programs and buyer needs/requirements takes place and a pre-qualification is provided if appropriate, allowing the homebuyer to confidently shop for a home while the Mortgage Lending Team prepares the rest of the loan package for review and final approval.

2. A complete loan application is taken and initial mortgage disclosures are sent out.

3. A mortgage loan processor requests and receives the documentation necessary to support the application.

4. The completed loan package is submitted to an underwriter for approval.

5. The loan package is reviewed and the borrower is notified if any conditions must be met or any additional documentation is required prior to the close of the loan.

6. Loan documents are drawn and set to the title company or closing attorney and the borrower is notified of the final amount needed to close the loan, including closing costs, down payment, etc.

7. An appointment is scheduled for the signing of closing documents.

8. Closing documents are signed.

9. The signed documents are returned to the lender and the loan is funded.

10. The title company or closing attorney records the legal documents.