Obtaining a Mortgage

This step-by-step guide will help guide you through the mortgage process. But be sure to use our loan application checklist and check with our Mortgage team to see if additional steps are required.

Step 1: Work with your mortgage specialist to provide financing for your home purchase. You can:

  • Get pre-qualified – Creditworthiness based purely on credit score, without formal consideration of income/employment verification.
  • Get pre-approved – More formal, underwritten commitment from the lender. regarding credit, qualifying income, asset, and employment analysis; maximizes buying power of a loan.

Step 2: Select a home

Step 3: Get a fully executed sales contract on a home

Step 4: Select the type of mortgage you want

Step 5: Contact your National Penn mortgage professional to complete the application process:

  • Complete the loan application.
  • Review and collect the applicable Loan Application Materials.
  • Within three days of loan application, you will receive a Good Faith Estimate, Truth in Lending and other regulatory disclosures.
  • Loan submitted for final review and decision.

Step 6: Close

  • Closing date and location is scheduled.
  • Final loan closing documents are prepared and reviewed.
  • Review and sign all loan closing documents.
  • Your mortgage is recorded.
  • Save money at closing if you have or open a Premier Relationship Checking account, you can save $250 off fees at closing.*

Talk to a Mortgage Loan Specialist today!

*Offer is good on new mortgage applications only and cannot be combined with any other promotion or coupon. Discount is applicable on loans that currently charge a fee. Residential mortgages subject to lender's regular credit criteria. Credit will be issued at time of closing. Ask for more details or request a disclosure book.

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