A HomePort file follows the same path as any mortgage review, underwriting, appraisal, closing. What changes is the evidence the decision rests on.
Five stages
The first two cost nothing and commit you to nothing you’ll know whether the program fits before filling in an application.
1
You describe the scenario
No cost · no credit check
An outline is enough: approximate assets, credit range, property value and your equity contribution, occupancy, and any deadline. By form, email, phone, text, or through your mortgage professional.
2
A loan officer reads it and answers
Typically within one business day
A licensed person reviews it, not an automated engine. You’ll be told whether it fits, and if not, why quickly enough to act on.
3
Structuring and pricing
Before you commit to anything
Loan amount, loan-to-value, and current pricing worked out against your actual scenario rather than a headline figure. This is where you decide whether to proceed.
4
Documentation and underwriting
The main work of the file
Asset statements, identification, evidence of funds, a credit review, and an appraisal. Worth knowing: alternative documentation means different paperwork, not less of it. What you’re spared is the tax-return calculation that would have sunk the application.
5
Approval and closing
Subject to credit approval
An asset-driven review generally moves faster than a conventional file. Responding quickly to document requests is the main thing within your control.
Start at stage one
Describe your situation and a licensed loan officer will tell you where you stand usually within one business day. No application, no credit check, no obligation.
