We will collect your loan application and other documentation to determine eligibility and expected financing terms. We’ll also order your appraisal and perform a preliminary background check.

We will obtain a borrower’s authorization form, which is typical in mortgage lending. This document authorizes us to obtain and verify documents related to the loan file, such as current mortgage payoff.

The sales team will order an appraisal after we've determined qualification based on the application and credit analysis. Since the appraisal process is critical in verifying the property’s value and ensuring it meets our requirements, the borrower must pay for the appraisal in full. All appraisals are good for 120 days.

It's important to provide us with accurate estimates of property value, rent and credit score. Any deviations in actuals from estimates will change the terms of your loan.

Make sure your government issued photo ID is not expired and will remain valid until the loan is funded.

MVC does not lend to foreign nationals or non-permanent resident aliens.

A fully executed purchase contract with all initial and signature lines completed by both the buyer and seller. The vesting information must match the buyer listed on the contract exactly. If there are any discrepancies in the buyer's name or changes to the purchase price, an addendum will be required.

We aim to close your loan within 30 days. To guarantee this timeline, the purchase contract must have at least 30 days remaining. If fewer than 30 days remain, an extension will be required. Additionally, the individual signing on the buyer’s behalf must have the authority to do so.

We will obtain a borrower’s authorization form, which is typical in mortgage lending. This document authorizes us to obtain and verify documents related to the loan file, such as current mortgage payoff.

The sales team will order an appraisal after we've determined qualification based on the application and credit analysis. Since the appraisal process is critical in verifying the property’s value and ensuring it meets our requirements, the borrower must pay for the appraisal in full. All appraisals are good for 120 days.

In addition to our standard insurance requirements, we also require flood coverage if it's determined that your property is located in a flood zone or is potentially subject to additional perils, such as wind or earthquakes.



We require reserves equal to six months of mortgage payments. For purchases and no cash-out refinances, cash to close is required in addition to reserves. We prefer instant banking verification (IBV) for fund verification but may accept bank statements in rare cases.

For cash-out refinances, the cash-out funds can be used to meet reserve requirements.

Use a consistent signature for each document and accurately date. We require all documents to be signed with blue ink.

Set up ACH for your monthly payment, due the first of each month.Update your ACH if you change bank accounts.

Payments must be received by the 16th of each month to remain eligible for future loans.