The Mortgage Process - Get Your Home Loan from Oak Bank

At Oak Bank, we want to make your dream home a reality. Make the process of buying a home less intimidating by following the step-by-step outline detailed below.  We will help you stay focused on the joys of being a homeowner.

• What are Oak Bank's mortgage rates?
• What might my monthly mortgage payment be?
• How much home loan can I afford?
• Should I rent or buy?
  

Before you even begin house hunting, you will want to meet with Oak Bank's Mortgage Lender about pre-qualifying for a mortgage. This step will help you determine exactly how much house you can afford.  Email loans@oakbankonline.com today!

You will need to provide information on your personal financial situation. You will be asked to sign documents permitting the lender to verify employment and income and to conduct a credit check.  You can apply using our Online Mortgage Application or by downloading our printable applications.

• Apply for your mortgage at your convenience, 24 hours a day, 7 days a week.
• Complete a customized application that only asks questions that apply to your specific situation.
• Check out our extensive resource center including mortgage calculators, a glossary of mortgage terms, easy-to-understand product information and Rate Watch.
• Obtain a loan decision in seconds after submitting your application.

 
Download Printable Home Loan Application Forms

For your convenience, we offer all of the forms listed below for easy download.   All forms are provided in PDF format.   In order to view and print a PDF file you will first need to download and install a free copy of the Adobe Acrobat Reader, if you don't already have it.  Just click on each link below and print out each form.  Once you've downloaded and filled out the forms, you can either fax them to us at (608) 441-6001 or drop them off at Oak Bank, 5951 McKee Road, Fitchburg, Wisconsin.

• Loan Application Check List.pdf
• Uniform Residential Loan Application.pdf
• Addendum to Uniform Residential Loan Application.pdf
• Authorization to Release.pdf
• Insurance Coverage.pdf
• Notice Regarding Your Application.pdf
• Notice Regarding Your Appraisal.pdf
• Request for Transcript of Tax Return.pdf
• Servicing Disclosure Statement.pdf

Oak Bank, along with Equifax, Experian, Innovis, and TransUnion, (collectively the "Consumer Credit Reporting Companies"), encourage you to make an informed decision about receiving firm (pre-approved / prescreened) offers of credit or insurance.  Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance that are not initiated by you ("Firm Offers"). The FCRA also provides you with the right to "Opt-Out", which prevents Consumer Credit Reporting Companies from providing your credit file information for Firm Offers.  Click HERE to find out more or to Opt-Out.

We will verify the information, check your credit, and then approve you for a loan amount, subject to an approved appraisal.

Once you have found a home, you will be asked to complete the property specific information on the application.

Oak Bank will secure an interest in the property you purchase. Therefore, we require an independent appraisal report. The appraiser estimates the current value of the property based on the neighborhood, the size of the property, the age of the property and it's structural integrity. We will contact you with the results of the appraisal.

Underwriters will review your application and make a decision on your loan. Once it is officially approved, you'll receive a commitment letter from Oak Bank. The final step is to schedule an appointment (within the number of days stipulated in the commitment letter) for the closing and property transfer.

This is when you take legal ownership of the property. Closings are generally conducted by title companies, and frequently take place at their offices. Usually all the parties involved (seller, attorney, lender, and buyer) attend. Prior to the closing, you will be informed of the exact amount of down payment and closing cost money you need to bring. You will also be asked to bring proof of insurance for the property. At the closing, you will be given a brief explanation of a number of legal documents and asked to sign them. As a buyer, you will sign a mortgage note, which is the personal promise to repay the loan, and the mortgage, which is the financial lien or claim against the property. Finally, the moment you have been waiting for - you receive the house keys and are officially a homeowner!

Once you have closed on your home, you can sign up for Oak Bank's Internet Bank or iBank and have access to your loan balance, payment information and make payments on your loan from another Oak Bank deposit account.

Click here to learn more about your home loan options.