Gallup Federal Credit Union and our partner Pivot Lending Group is excited to help you on the journey to home ownership or refinancing your existing home. Picking the right company to help you through the process is very important. We are here to help!! As always, when you call Gallup Federal Credit Union, you won’t need to navigate through an annoying voicemail system. You will speak with a real person. Our mortgage loan officers will answer all your questions regarding the mortgage loan application, closing costs, down payment, interest rates, and more. Even if you’ve owned a home before, the ever changing lending guidelines and regulations can be cumbersome to navigate.

Please review the steps below to better understand how this process will flow from beginning to end.

  1. Initial Disclosures
    After you give your Loan Officer permission to proceed, documents detailing your selected loan will be sent within 72 hours for your review and signatures. For your convenience, these documents can be uploaded and sent directly to your loan officer or processor.
  2. Timely Response
    It is very important that all documents you are sent are returned to us quickly. Please also send any additional documents we may request quickly as well.
  3. Processing
    The documentation we’ve generated for you to sign AND the documentation you sent to us will all be reviewed by your Loan Processor. Any additional items will be collected and added to the package in preparation for underwriting.
  4. Appraisal
    We will order an appraisal of your home from a qualified appraiser. This report is used to determine the market value of your home and to make sure that the loan program you selected initially is appropriate.
  5. Initial Consultation
    This meeting can occur via phone or face to face. It’s up to you. This step will determine your options and qualification. It would be very helpful to have all of your documents ready for this meeting.
  6. Underwriting
    A mortgage underwriter will evaluate the loan package and compare it against current guidelines to make sure the loan meets all required criteria.
  7. Approval
    Assuming the review noted in step 6 goes as planned, your mortgage loan will be approved as is. The underwriter will request any further documentation necessary to clear your loan to Close.
  8. Closing Documents
    Once your loan is approved to close, we will begin preparation of closing documents. We will also send a Closing Disclosure (CD) to you for review a minimum of 3 days prior to closing. This CD needs to be reviewed and signed right away.
  9. Closing Day!!
    Whatever your reason for obtaining a mortgage loan, Gallup Federal Credit Union and our partner Pivot Lending Group will guide you throughout the process. From application to closing, our mortgage loan professionals will navigate you through the maze of options available. As a member of the Gallup Federal Credit Union, we want you to be comfortable while we handle all the details.