Get to know the loan process 

Feeling confused about how to get started?
We have resources available at your fingertips.
Step one

Meet with a loan officer to discuss your goals and current financial situation.  Your loan officer will help to determine what loan amount and purchase price you can qualify for and what programs will be a good fit for you. 

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Receiving a pre-approval letter prior to looking at properties requires verification of your income, credit, assets and liabilities.  It is recommended that you get pre-approved before you start looking for your new house so that you can: 

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  1. Know your price range before you start looking

  2. Be in a better position when negotiating with the seller (being pre-approved can help the seller be confident in your offer)

  3. Close your loan quicker

Find Out How Much You Can Borrow

MIW Online

What is included in the MIW Online: My Story solution?

Customers Receive:

  • Access to the MIW Online My Story Dashboard (click here to view), which is broken into chapters that walk users through their life stages.
  • Access to our Memory Prompting Videos and questions that are designed to help users recollect memories and share their stories.
  • The option to Record a Story (Video or Audio)
  • The option to Share a Written Story
  • The option to add a photo and caption
  • A Digital Story Book, that is updated and sent to the client monthly. Video and Audio Recordings are included in the digital book and transcribed for printed copies.

After your payment is processed you will be prompted to set-up a login and password. You will have immediate access to the MIW Online My Story Dashboard (click here to view chapters) and can start sharing your stories.



Does the MIW Online: My Story solution allow me to select and complete chapters in any order that I desire?

Yes, You have access to all of the chapters. You can answer them in the order provided or answer in any order that you desire.



What is the cost to have my MIW Online: Digital Story Book transformed into a printed softbound or hardbound book?

All books have full color printed covers and are 8.5" x 11" in size

Pricing Includes the printed book and the following services:

  • Interior Design & Layout
  • Light Edit: Quick Review for Typos & Punctuation Errors
  • Cover Design: Standard Template

MIW Online Monthly and Quarterly Subscribers - Printed Book Pricing:

  • $55: Softbound, Black and white interior, up to 240 pages
  • $65: Hardbound, Black and white interior, up to 240 pages
  • $75: Softbound, Color Interior, up to 150 pages
  • $85: Hardbound, Color Interior, up to 150 pages

Available Additional Services:

  • Customized Cover: 3 Designs to choose from - +$100.00
  • Deep Edit: A comprehensive re-write/edit +$500.00



How frequently do you update the Digital Story book? Is there a page limit?

Digital Story Books are updated Monthly - updates are visible 7 business days into the next Month. (Example, stories submitted in March will be available for viewing on 7th. business day in April). Recordings are also transcribed.

There is no page limit - Digital Story Books do not have a page count limit; we may recommend creating different editions based on the file size or content.



Will you fix spelling errors or typos and format my Digital Story Book?

  • We perform a light edit and will correct obvious issues. You can request a deep edit by paying an additional monthly fee of $20.00 or a onetime charge of $500.00 when your project is complete.

  • Story Books are formatted to be aesthetically appealing (example: photos will be inserted and sized accordingly) there is no additional charge for this service.



How does the Concierge Service work?

Concierge Service subscribers select the day and time that they would like a MIW Representative to contact them weekly. They will receive a call on that day and time and their assigned representative will conduct a brief interview. Interviews are engaging and the interviewers are trained to ensure that at no time the client feels rushed.

Stories are entered into the MIW Online dashboard and incorporated into the Monthly Digital Story book. If the Video Interview option is selected, the Clients Story is recorded and incorporated into their Digital Story Book.



What happens if I miss my weekly concierge call?

Your assigned representative will call you on your selected alternative day and time; if that is also unsuccessful, you will be asked the previous memory prompting questions during your next appointment.



What is your cancellation policy

You can cancel your plan at any time. A final copy of your Digital Story Book will be made available. No refunds are issued.



Workbook

What is the difference between workbooks and can I look inside?

Both books have a plastic spiral binding and contain Memory Prompting questions that are designed assist the user with telling their Life Story. The Captured Memories Workbook: Full Edition is 6x9 in size, 216 pages and contains over 200 Memory Prompting Questions with Space to write. (click here to see an example of the interior) The Captured Memories Workbook: Abridged Edition is 5.5" x 8.5" in size, 72 pages and contains ~100 Memory Prompting Questions with Space to write. (click here to see an example of the interior)



How long does it take to get my workbook after I place an order?

Workbooks are shipped the next business day after the order is received; it normally takes 3 - 5 days for customers to receive their books after we ship. We currently only ship to customers located in the United States.



You can have your Captured Memories Workbook transformed into a printed softbound or hardbound book.

All books have full color printed covers and are 8.5" x 11" in size.

Pricing Includes the printed book and the following services

  • Transcribing Written To Typed Copy
  • Scan, digitize & add Photos (15)
  • Interior Design & Layout
  • Light Edit: A quick review and correction of Typos & Punctuation Errors
  • Cover Design: Standard Template (Customers can select a photo for the cover)

Captured Memories Workbook: Abridged Edition - Printed Book Pricing:

  • $365: Softbound, Black and white interior, up to 150 pages
  • $385: Hardbound, Black and white interior, up to 150 pages
  • $425: Softbound, Color Interior, up to 150 pages
  • $445: Hardbound, Color Interior, up to 150 pages

Captured Memories Workbook: Full Edition - Printed Book Pricing:

  • $615: Softbound, Black and white interior, up to 150 pages
  • $635: Hardbound, Black and white interior, up to 150 pages
  • $675: Softbound, Color Interior, up to 150 pages
  • $695: Hardbound, Color Interior, up to 150 pages
Available Additional Services:
  • Customized Cover: 3 Designs to choose from - +$100.00
  • Deep Edit: A comprehensive re-write/edit +$500.00
Step two

Once you have had the opportunity to decide on a property with your realtor and put in an offer, the formal mortgage approval process will be set into motion.

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Your loan officer will pull a credit report (if they did not do so prior) and request a specific set of documents from you that will be able to provide the underwriter with enough information to make an initial decision on your loan approval.  Once you provide these documents, your loan officer will place your mortgage transaction with the lending partner who has the best terms on the program you both agreed on.

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Once our lending partner has received our request to work with them on your loan, your loan will be moved into processing.

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Step three

Our processing team will work with you throughout the remainder of the process to make sure that your mortgage loan is treated with priority and you will work with a single processor who will become another main point of contact.

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Your processor will work with our lending partner to issue your first set of loan documents, including your Loan Estimate, so that you can review fees, see the initial terms of the program, and ask any questions that you may have.

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At this point, your loan will be submitted to our lending partner for an initial review of your transaction.

Begin Loan Processing

Income/Employment Check

Is your income sufficient to cover monthly payments for all your debt obligations, not just your mortgage? Industry guidelines are used to evaluate your income and your debts to make sure that there is an acceptable probability that you will be able to meet your debt obligations well into the future in the case that your income stays the same or rises.



Credit Check

What is your ability to repay debts when due? Your credit report is reviewed to let the lender take a look at your credit history, including the type and terms of previous loans or open ended accounts. Looking at your payment history and account balances, among other things, can help the lender determine what they believe your likelihood of making on-time payments is.



Asset Check

Do you have the funds necessary to make the down payment and pay closing costs? Due to a number of regulations set in place to prevent money laundering, just having enough money in your account or in cash does not mean that you will be able to use it for your down payment. Verifying how long you have had an asset, what type of asset it is, or where it came from will indicate whether or not an asset can be used for a down payment or cash to close.



Property Appraisal

Is there sufficient value in the property? When an appraisal is done, the appraiser will compare your property to other properties of similar type in the area to determine the market value of your home. The value of your home can be very important in determining the terms of your loan that are availble to you.



Other Documentation

In some cases, additional documentation might be required before making a final determination regarding your loan approval. In order to improve your chances of getting a loan approval:

  1. Fill out your loan application completely. You may use our online forms to expedite the process.
  2. Respond promptly to any requests for additional documentation especially if your rate is locked or if your loan is to close by a certain date.
  3. Do not move money into or from your bank accounts without a paper trail. If you are receiving money from friends, family or other relatives, please prepare a gift letter and contact us.
  4. Do not make any major purchases until your loan is closed. Purchases cause your debts to increase and might have an adverse affect on your current application.
  5. Do not go out of town around your loan's closing date. If you plan to be out of town, you may want to sign a Power of Attorney.



Step four

Following the underwriter's initial review of your documents, they will contact your processor with a list of additional items they need to see in order to make a final decision and approve your loan for closing.  Some of these documents will need to come from you, and some will be gathered by your processor without needing your help, like the title of the home.

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Your processor will review the request from the underwriter and reach out to you if they need anything. 

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When they have all the items requested by the underwriter back, they will submit them back to the underwriting team for review.  This back and forth may need to happen a few times since providing the underwriter new documents can bring to light new information that was not known when the application was submitted.

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When the underwriter has concluded that the documentation and information meets their guidelines and has no further questions, they will approve your loan for closing.  

Step five

To close, your processor will help you coordinate with the title company to schedule your closing at a time and place that works for you.  You may choose to go to the title company, but you can also have a mobile notary public meet you at a different place.

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Before closing, you will need to speak with the title company and your processor to ensure that you have accurate information about how you will be bringing in your down payment.  

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Contact us

9980 S 300 W, Ste 310
Sandy, UT 84070 
Phone: (877) 394-3004
Fax: (888) 651-3508
info@equihomemortgage.com

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 1665303
www.nmlsconsumeraccess.org