HOW IT WORKS:

Application

· Submit application at kimpedersenmortgage.com or over the phone.

· If refinancing, please send mortgage statement.

· Send copies of most recent paystub(s), 2 years of W2s, 2 years of tax returns and most recent 1 month of all checking/saving/money market and retirement account statements.

· We will obtain your credit report.

· Your credit report, application and supporting documentation are reviewed.

· Loan options will be discussed and confirmed

· Application disclosures prepared for you to signatures.

· Closing is scheduled.

 

Contact for this step:

Kim Pedersen

Loan Officer

Ph: (952) 417-8466

Fax: (952) 847-1309

Email: Kim.Pedersen@alerus.com


Processing

 

· Any additional documents are requested.

· Appraisal is ordered (if applicable).

· Title work is ordered.

· File is submitted to underwriting.

If all documentation is accepted and approved by our underwriters:

· Final approval is issued.

· Your current employment is verified with your employer.

· Closing documents are sent to the title company.

 

Contact for this step:

Sandy Gunderson

Loan Processor

Ph: (952) 847-9830

Fax: (952) 847-1313

Email: Sandy.Gunderson@alerus.com


Closing

 

· You will receive a copy of your HUD Settlement Statement prior to closing.

· If you are bringing money to closing you will need a cashier’s check.

· Proceed to the scheduled location and sign final documents.

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