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First-Time Homebuyer’s Guide: Part 14

Securely upload and digitally sign your loan documents

By this point, you’ve gotten your free credit scores and received a real approval thanks to the Digital Mortgage. You’ve also obtained your official loan estimate and provided your intent to proceed. Now, it’s time to start securely uploading and digitally signing several required documents.

These steps will push you that much closer to the finish line, marking the conclusion of the initial application process and preparing you for closing.

So, what does it entail? Let’s start by talking about what used to be involved: a lot of scanning, faxing and sending private information over email. With the Digital Mortgage, those elements can be a thing of the past.

The Digital Mortgage uses a cloud-based technology to make it truly paperless. A document-sharing service facilitates providing your loan officer and their team with several required documents. This is quickly and easily done in a safe, secure environment, as these documents often contain sensitive, personal information.

In the process, it creates an immediate and constant collaboration between you and the people working on your loan. That’s important, as it maximizes efficiency and drives the process along at a faster pace.

Once you’ve navigated to Rate.com and accessed its Loan Center, log in to the Digital Mortgage to view and complete the To Do List items. Several documents will be required to close your loan—these typically include but may not be limited to the following:

• W-2 forms
• Paystubs
• Bank statements from checking/savings accounts
• Homeowners insurance information
• Verification of employment

In addition to providing these documents, you’ll also review and approve your application kit. This contains your estimated loan costs, interest rate, escrows and other important elements that will help make your closing experience as smooth as possible.

Before proceeding, you’ll electronically review and sign application disclosures. While printing and manually signing the disclosures is an option, keeping the process digital will move things along and help you close on your home that much faster. And it’s all done in a secure fashion.

As always, if at any point during the process you have a question, don’t hesitate to reach out to your loan officer for assistance.

In next week’s First-Time Homebuyer’s Guide…
Part 15: Breaking down the elements of a home inspection


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