Loan Process

At Sky Financial, we work with many different lenders in order to provide you with custom refinance options designed to meet your needs. Make sure you ask about the no closing cost options that are available!

Here are the main steps which are required to process your loan

Step 1: Contact Sky Financial with your loan requirements
Step 2: One of our loan originators will quote you different rate and closing cost options.
Step 3: We will send you the loan application which will need to signed and returned to our office along with the additional documentation (see below).
Step 4: Our loan processors will submit all of your documents to the lender and get the home appraisal ordered.
Step 5: In about 2-3 weeks, the bank will approve your loan and we can start the closing process
Step 6: Within 3-5 days your loan will be closed and your first new loan payment will be due the following month.

Required Documentation

1. 2020 & 2021 W-2s
2. Last 2 Pay Stubs
3. Last Month's Bank Statements (All Pages)
4. 2020 & 2021 Signed and Complete 1040's
5. Copy of Driver's Licenses
6. Signed Application
7. Copy of Homeowner's Insurance Declaration Page w/Paid Receipt
8. Other Potentially Required Documents
1. Statement from Existing Mortgage that will be Paid Off during Closing
2. 2020 & 2021 Signed and Complete 1120 & K-1 (if self employed)
3. Award Letter from Social Security or Pension (if using retirement income)
4. End of Year Statement (if using social security income)
5. Fully Executed Purchase Contract (if new property purchase)
6. Fully Executed Sales Contract (if needed to qualify for new purchase)