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Clear Lake Bank & Trust


A couple looks at the front of their new home.

Home Loan Process

Here's what you can expect with our purchase process: 

  1. Get pre-qualified.   Get started

    A pre-qualification will benefit you in several ways. First, it gives you an idea of the loan amount and payments you can afford. Next, it strengthens your offer with buyers and their real estate agent by proving you can afford home ownership. Finally, it gives you momentum toward the approval process. 

  2. Determine which mortgage loan best fits your needs. 
    With all of the loan options available, you'll need an expert to help explain your option and help pick the right loan for your goals. 

  3. Start shopping! 
    With a pre-approval in hand and an idea of how much you can spend, it's time to find a real estate agent and begin the house hunt. Once you find your dream home, your agent can work with us to draw up an offer and complete the purchase agreement. 

  4. Review your loan application and update your loan. 
    Depending on the time lapse between your pre-approval and selecting a home, your loan officer may need to collect some additional information for you. At this point, we will explain all the details of your loan so you are comfortable with every aspect of purchase before moving forward. 

  5. Lock your rate.
    If you plan to secure your interest rate, your loan officer will send you a lock agreement and confirm the loan rate and terms.

  6. Home inspection and appraisal.
    We highly recommend scheduling a home inspection with a professional who can point out any red flag areas of concern before purchase - structural or electrical issues, etc. Any of these issues will need to be remedied before close of your escrow date. While your loan is being processed, we will schedule an appraisal of the home to confirm it's listed value. Unlike an inspection, an appraisal is required. 

  7. Loan approval, signing, and closing.
    When we have everything we need, your loan processor will submit your file to underwriting for approval. When we have approved your loan, we will prepare your loan documents for signing. Most loan closings last between 30 and 60 minutes.