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Loan Process

Thank you for considering Mechanics Bank for your home financing needs.

You may apply online, or download and print the loan application package for completion. The application may then be faxed, mailed, or submitted online to the mortgage loan office to begin processing. Once the application is received, we will contact you to discuss the status of your application step by step. This process is what we refer to as the pre-approval process.

The loan process is not nearly as cumbersome as it once was. With improvement in technology and changes in documentation guidelines, it is easier than ever to pre-qualify or be approved for a mortgage. With applicant provided paystubs, bank statements and the like, most loan applications can be credit approved in 24 hours or less.

In simple terms, the process of evaluating your loan application consists of a review of your credit report, income and asset verification, and finally debt to income calculations. The lender then orders an appraisal by a licensed appraiser to determine the value of the property you are purchasing or refinancing since you will be using the property as collateral for the loan you are requesting.