Apply

With the Orozco team and Primary Residential Mortgage, the loan approval process has never been as easy. We offer a variety of secure and convenient application options:

  1. Complete Secure ClickApproval Application
     

  2. Call us at 602.312.3997
    We will gladly take your application over the phone and assist you with any questions you may have.

Mortgage Process Timeline

PRE-QUALIFICATION

Contact the Orozco Team and get pre-qualified to buy.

 

LOOK FOR HOMES & SUBMIT AN OFFER

Work with a real estate agent to preview homes for sale and submit an offer.

(Ask us for agent recommendations!)

 

FINALIZE LOAN APPLICATION

Finalize your loan application and update all documents.

 

PROCESS LOAN

Your PRMI Lender will assign a processor who packages your file and monitors its progress.

 

UNDERWRITING

An underwriter verifies that the loan fits all guidelines and issues a mortgage commitment.

 

PRE-CLOSING

Last details finalized by the lender like title rundown and title insurance.

 

CLOSE

Paperwork is finalized and a Closing Disclosure is issued. Then you sign and take ownership.

 

CONGRATULATIONS! YOU'RE A HOMEOWNER!

What not to do during the mortgage process

CHANGE EMPLOYMENT

Major life changes may affect the funding of your mortgage. If possible continue working at your current employer, living at your current residence and making your mortgage/rent payment on-time. Show your underwriter that you are responsible and not risky to lend to.

 

MAKE ANY LARGE CASH DEPOSITS INTO BANK ACCOUNTS

Or transfer any balances from one account to another. Your underwriter wants to see a steady, regular flow of income. If you’re only staying afloat because of random, large deposits from family members, you’re not a reliable candidate. If you receive a big enough deposit, you’ll need to fill out a gift letter.

 

MAKE ANY MAJOR PURCHASES (CAR, JEWELRY, FURNITURE, ETC.)

While it can be tempting to want to furnish your new home or park a brand new car in your new driveway, avoid making any large purchases on credit. This raises your debt-to-income. It also adds inquiries to your credit report, which can lower your score and raise a red flag to lenders.

 

However, you should continue to use your credit as normal. Show that your debt to income ratio is stable and your spending is in control.

 

OPEN ANY NEW CREDIT ACCOUNTS

This also means you shouldn’t close any cards out, either. Both actions can hurt your credit score, and you want your credit score to be as high as possible when you apply for a home loan.

 

CONSOLIDATE YOU DEBT (CONSULT PRIOR)

Again, don’t do anything that will have affect on your credit score. Consistency is key when applying for your mortgage.

 

If you feel you have a special situation, it is best to mention that to us right away so we can help you

determine the best solution in order to achieve your goals!

Need more details? Contact us!

We are here to assist. Contact us by phone, email or via our social media channels.

PRMI NMLS 3094. PRMI is an equal housing lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. terms and conditions apply. This is not a commitment to lend. programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Arizona Department of Financial Institutions 0902614. Branch Phone: 480.282.6270 | NMLS 1087370 - MLO 0118716 FICO® is a registered trademark of Fair Isaac Corporation.

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