New Life Mortgage is locally-owned and operated company specializing in residential lending in the state of Indiana. We were founded in 2003 with the goal of providing the best home loans, refinancing and home loan rates to customers across the Hoosier State. Back in 2003, Christopher Smith made the decision that he could make mortgage loans just like the larger banks, but give his clients the more personal, friendly and positive experience that they deserve. After 13 years, we’re proud to say we’re still here when many other mortgage brokers are not, and we have a slew of satisfied customers who have found their home loan or refinanced their mortgage with us.
At New Life Mortgage, you will find caring, seasoned professionals dedicated to making your home-financing experience a lifelong relationship and most especially, one that is both beneficial and gratifying. Based in Fishers, we are a unique mortgage company with thousands of highly-satisfied clients and there is a reason that our customers often return to New Life Mortgage year after year, loan after loan. New Life Mortgage's mission statement demonstrates that our main professional goal is to make a positive contribution to our clients' lives. Quite simply, we operate with integrity, we treat our clients with the utmost respect, and we deliver the highest levels of customer service in the industry while delivering unparalleled rates and products across a spectrum of lenders.
We have always been on the side of the customer, always suggesting the most appropriate mortgage for you. We have an unparalleled depth of experience within Mortgages for home buyers. All of our brokers and mortgage administrators have worked for several years within major lenders. Consequently we know what is required to get the best result in the quickest possible time.
We offer a unique set of products not generally available or offered by your banks and credit unions. Whether you need a mortgage, mortgage refinancing...or a home-equity loan, we are your best source for:
We will meet with you to understand your needs. Mortgages are complicated with many moving parts, we need to know what your goals and needs are so we can give you the best options to truly guide you make sure this mortgage is right for you.
We need to get a mortgage application going to get the process started. We will need about 20 minutes of your time to ask a number of questions around home address, employment, dependents and various personal information. Often this is when we need to pull credit to make sure you qualify for the mortgage that we want.
Upfront we need to collect documents to get into underwriting. These can vary based on the type of mortgage, your type of employment, and other reasons based on your application. In most situations we need the following up front during the application process.
We will put a packet of disclosures together for you to sign to enter underwriting. This packet will also contain important items like the loan estimate which is have our estimates for the cost of your mortgage. These documents can often be sent electronically for signatures so we can speed up the process for you.
All of the prior documentation together will put us into underwriting. At this stage the lender will give us conditions to get the loan closed or let us know if this mortgage cannot be done. Conditions are often things like these for example; appraisal, title work, clarification on work history or bank statements, a homeowners insurance quote, copy of photo ID, letters of explanation, ETC… This step can take up to 72 hours but most of our lenders do it within 48 hours.
During the underwriting stage we often get the appraisal ordered. The appraisal is normally one of the longer aspects of getting a mortgage. It must be ordered by the lender through an independent 3rd party. It is the only part of the closing costs that you pay before closing.
Once we received the good news of a conditional approval from underwriting, Kim Souder our processor, will reach out to you to deliver the good news. She will let you know what conditions the underwriter would like to see in order to move the loan to approved and clear to close. Examples of conditions are noted in the underwriting section but can vary based on the loan and credit history of the borrower.
The last part of the process, closing the loan. Once clear to close we normally have all conditions and the loan is complete. The lender will issue a closing disclosure to you so you can review all of the final cost of your mortgage along with details like rate and payment. You must acknowledge the receipt of this CD in your email within 3 business days of your closing date or your closing will be delayed.