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Stacy Lynn Schriever
RMLO NMLS 360310
c: (817) 707-5454

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700 State Highway 121 Bypass , Suite 150
Lewisville, TX 75067
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Loan Process

8 Steps to a home

Premier Nationwide Lending feels the homebuying process should be transparent and stress free. Below you will see the 8 step loan process you will encounter when buying a home. If you have any questions concerning the home loan process, please contact your Premier Home Mortgage Loan Expert who is on standby ready to assist you with your home mortgage needs.

Eight steps to a home.

1. Pre-qualification Pre-qualification is usually the first step after initial contact is made to the lender. When pre-qualifying a borrower, the lender gathers information about the income and debts of the borrower and makes a financial determination about how much house the borrower may be able to afford. Wondering about your credit?

2. Application The application is actually the beginning of the loan process and usually occurs between days one and five of the loan. The borrower completes a mortgage application with the loan officer and supplies all of the required documentation for processing. Various fees and down payments are discussed at this time and the borrower will receive a Loan Estimate, which itemizes the rates and associated costs for obtaining the loan.

3. Opening the File This occurs between days 3 and 10. At this time the lender orders a property appraisal, title insurance, property survey, and credit reports, mails out requests for verifications, such as employment, bank deposits, rent, and any other documents needed for processing the loan. All information supplied by the borrower is reviewed at this time and a list of items not yet received is compiled.

4. Processing Processing occurs between days 5 and 25 of the loan. The processor reviews the credit reports and verifies the borrower’s debts and payment histories as the VODs and VOEs are returned. If there are unacceptable late payments, collections for judgment, etc., a written explanation will be required from the borrower. The processor also reviews the appraisal, survey, and checks for property issues that may require further discernment. The processor’s job is to put together an entire package that may be underwritten by the lender.

5. Underwriting Lender underwriting occurs between days 15 and 25. The underwriter is responsible for determining whether the combined package received by the processor is deemed as an acceptable loan. If more information is needed, the loan is “suspended” and the borrower is contacted to supply more documentation.

6. Pre-Closing Pre-Closing occurs between days 20 and 30. The file has come out of underwriting and all conditions are being cleared. Once this has been achieved, a closing time is scheduled.

7. Closing Closing usually occurs between days 20 and 30 of the loan. At the closing, the lender funds the loan with a cashier’s check, draft, or wire to the selling party in exchange for title to the property. This is the point at which the borrower finishes the loan process and actually buys the house.

8. Move in!

Residential Mortgage Loan Originators

I’m a Graduate of University Texas at Arlington with a Bachelor’s degree in Communications and Business Management and reside in Flower Mound, Texas with my daughter, Landry. I have spent over 25 years in sales and marketing and the past 10 in the mortgage business with experience on every type of mortgage loan, purchase or refinance. From Government loans to Jumbo and Conventional loans working with customers that are First Time Home Buyers that need guidance and understanding of the process to the experienced borrower that needs an efficient turn-around time. I have served as a Mortgage Broker and have worked in a Large Bank environment. I believe working with Premier Nationwide Lending I am able to provide the best of both worlds to my customer base as we are an extremely Realtor/Client friendly environment with an accessible office to meet in person and the extensive technology to accomplish business over the phone and with out of town buyers that need assistance.


Loan Center

Checklist

What you will need to ensure a smooth home mortgage process.

Loan Options

There are several loan options available when purchasing a home.

Down Payment Assistance

Find out more about special programs and who qualifies.

Calculator

Wondering how much you can finance?

Testimonials

Being first time homebuyers, we had no idea what to expect or what was required. We had to close quickly and Stacy took the time to meet with us personally both on and off regular business hours to keep us informed all the way through the process. When our realtor didn't even show up to the closing, she was already there before our request. Stacy walked us through the entire process from selection to closing and ensured that we understood what was required, and when, in order to close on time. Available and informed at any time we needed, Stacy was a critical player in finding and purchasing our dream home. Thank you!

John & Angela C. - Coppell, Texas

Stacy makes the American Dream Happen! She is very Efficient and always closes on time, she is an asset to my team!

Marvin B. - Keller Williams

I have been extremely pleased with the service and professionalism that I received from Stacy Schriever for two separate re-finance mortgage loans. She was on top of every aspect of the loan process and made sure I was notified every step of the way. I appreciated her knowledge with the different types of loans available to me and helping me to decide which loan best fit my needs. I have recommended her to friends and family and would absolutely use her again on any future loans.

Betsy B., AIC, CRIS - Quanta Services

I've known Stacy for 10 years, professionally & personally. She communicates in a timely manner with compassion & clarity. I am very confident that she is "on the ball" for our clients with the utmost ethics.

Beka W., Realtor Keller Williams

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