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Irene Moustakas
Granite Financial
P: 408.257.1681
F: 408.608.1636

The Loan Process

Whether you're looking to buy your first home or refinance an existing one, it’s a good idea to have a basic knowledge of what to expect during the loan process. The first thing we do is meet over the phone or in person to discuss your goals and review the available mortgage loan products to determine what best matches those goals.

If you decide to pursue your loan with me, I'll then ask you to fill out an application. I'll also ask for any necessary documentation (such as paycheck stubs, W2s, and bank statements). When I have everything I need, I'll pull your credit report and average out your income to determine your qualifying ratios, then submit your file to a lender for review and approval. Because Granite Financial is a mortgage brokerage, I have a wide array of lenders and loan products with extremely competitive rates that will fit your particular needs and situation.

If you're in the market to buy a home, you'll be ready to start looking for one once we receive the pre-approval from the lender. Getting pre-approved puts you in a much better negotiating position for making offers: sellers will see you as a much more serious buyer, and you'll also have become better educated about the process.

Once you find a home and you've made an offer, your Realtor® will guide you through the purchase contract and the possibility of any counter-offers. Upon the acceptance of your offer, a close of escrow date will be determined, which is generally between 15 to 60 days. During this period, all home inspections, loan conditions, appraisal, title search, homeowners insurance, and signing of the final documents must be satisfactorily completed.

If this seems overwhelming, don't worry. Your Realtor® and I will be available throughout the process to offer advice and help take care of all the details. We'll also be at the closing to help you with the signing of all documents and to answer any questions or concerns you may have at that time. Remember that we're your team; our job is to provide you with the knowledge, experience, and moral support that you'll need to successfully purchase your new home.

For both a home purchase and a refinance, one important thing that we'll discuss when you fill out your application is whether to lock or float an interest rate. If you're pre-approved, a property address must be determined in order to lock in the interest rate. Making the decision to lock is utterly yours, but it's my job to let you know how the market has been trending and if there are any expectations for an impending rate change. Remember that the market can be extremely volatile and that interest rates change daily, sometimes multiple times within one day, and that your rate isn't guaranteed until it's locked.

Once all loan conditions are met, and the title report and appraisal are satisfactorily reviewed, the lender will draw up your loan documents. The documents consist mainly of legal paperwork and disclosures and are signed at the title company and notarized by an escrow officer. Your package is returned to the lender for one last look and to fund the loan via wire transfer to the title company. At this point, the title company will record your deed of trust and your promissory note at the county recorder’s office, and escrow will officially close!

Congratulations, you're a homeowner!

"You were so great to communicate with us so wonderfully, keeping us up to date, and free from unexpected surprises. This really helped us to be much more relaxed about the process, and this is much appreciated!"
-D. Crawford

"Thank you for all your care and attention with the purchase of our home. Your guidance and help was invaluable."
-Dave Moloney and Jessica Grattan

"Irene's knowledge and expertise helped us save $25K over the life of our loan, and her attention to detail was impressive. She was extremely prompt in anwering our questions, made sure we understood all of our options and the conditions of the loans, and cheerfully met us at the title company for the signing. I have nothing but high praise for Irene."
-Tracy Scott and Peter Acronico

"Irene recently helped my husband and I refinance our primary residence. We've used other people in the past, and can honestly say that she is the best! Irene is very knowledgeable and just as important; she can explain the various options in a way that make sense to those of us who find the whole mortgage thing very confusing. Perhaps the best thing about Irene is that you can tell that she is looking out for what is in YOUR best interest."
-Lisa Reigel

"I really appreciate the good and honest advice you have given me."
-Joanna Liu

"Thank you for being flexible and making the pre-approval as simple and painless as possible. I was really amazed at how easy it was!"
-Mark O’Sullivan

"Irene is professional, extremely knowledgeable and truly cares about finding you the best loan possible. When you have Irene on your team she never stops working for you."
-Anna and Gerrad Killion

"Irene presented an outstanding level of knowlegde and creativity during my loan approval process. She was highly attentive and responded to countless questions and inquiries on a daily (and often hourly) basis. I would highly recommend her for any mortgage application."
-Benjamin Stratton

"You are a delight to work with! Thank you for being so compassionate and positive! Refinancing is stressful and you relieved so much of the pressure."
-Nancy Marmolejo

"Not only will we recommend Irene to our friends and family, we'll insist upon it."
-Kelley Chimienti

"Irene is constantly in tune with the market and up to the minute with the changing interest rates. I didn't even know we were in a position to refinance but she was able to lock us in at a rate that was nearly 1 whole percent less than our original with no fees whatsoever!"
-Erin and Jason Boettner

"Thank you for helping us refinance our home. We really appreciated your excellent customer service, your attention to detail and your trustworthiness. You really helped us feel comfortable and confident that the refi would go smoothly, and it did!"
-Aaron and Erin Baker

"Irene was extremely knowledgeable, so patient, very efficient and continuously kept me in the loop."
-Tiffany Fairchild

"Irene offered suggestions on financing options that I'd never have thought of myself. Excellent service and she saved me a bundle too!"
-Wendy Gamble

"When rates dropped a few months after we'd refinanced, Irene called us and was able to get us a better rate at no cost to us. She's definitely earned our trust.”
-Manoutchehr Rahimi

"Irene asked a few questions to help us clarify our goals, then helped us narrow down our choices by asking us more specific questions, and we ended up with an arrangement that has been just perfect."
-Eileen Yen

"Irene’s compassion and knowledge are over the top. All who have worked with her are grateful and walked through this confusing process brillantly. As a Realtor we have worked together and she puts both the clients and me at ease."
-Laila Fields, Coldwell Banker