UNDERSTANDING THE APPLICATION PROCESS

Understanding the loan application process prepares you to make better decisions. This section outlines how we process your application and if approved, how we close your loan.

Prepare.

Before applying, you should have the following information:

• Your current monthly or yearly income
• Your current expenses
• The approximate value of your house

Apply.

You can apply in the way that is most convenient to you:

• Reply (or respond) online
• By phone
• By visiting a local Wachovia branch

Verify.

During the loan process you may be asked to provide us with some basic documentation to help us validate the information provided at application. This may include:

• Recent pay stubs
• Last year’s W-2 or two (2) years tax returns if self employed
• Homeowner’s insurance policy or binder

We may also need to obtain lenders title insurance on your property. Title insurance provides us with protection against potential adverse lien holders. The cost of title insurance can sometimes be financed.¹

Processing the loan.

Once we have received all of the necessary information your loan will be processed as quickly as possible. The prompt return of all requested documentation will allow us to complete the transaction efficiently.

When you apply, your loan counselor will review the final application with you to make sure all your options have been considered.

Sign documentation.

Once approved, your loan is ready to close. Depending on applicable state law, you may choose to close a loan and sign a loan documentation package via express mail, through a title agency/attorney, or in a Wachovia branch.

Receive funds.

Once the loan is properly closed and funds are available, they may be express-mailed to you or direct deposited into an applicable Wachovia account. If you have completed a debt consolidation loan, we will mail the payoff checks to creditors for you. State restrictions may apply as to which funding option is available.

All loans and lines of credit are subject to credit approval, verification, and collateral evaluation and are originated by Wachovia Mortgage, FSB, Wachovia Bank, National Association, Wachovia Financial Services, Inc., or where applicable Wachovia Bank of Delaware, National Association. Products are not available in all states and are subject to change without notice.

Mortgage loans are originated by Wachovia Mortgage, FSB, and are subject to credit approval, verification and collateral evaluation. Products are not available in all states. Programs, rates, terms and conditions are subject to change without notice. Certain restrictions apply.



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•Loan Amount Estimator

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