Loan Process & Closing Costs

You’ve decided to apply for a mortgage loan with AuburnBank so what’s next? Your Mortgage Loan Originator will work with you during the entire process to make sure you have all the necessary documentation required for a loan decision to be made.

We want to make the loan process as easy as possible. Here’s what you can expect:

Step 1:  Get Prepared

  • •Make an appointment to meet with an AuburnBank Mortgage Loan Originator.
  • •Your originator will advise you on what documents to bring to your appointment.
  • •We recommend you consider getting pre-qualified for your loan.
  • •Begin the exciting search for your new home!

Step 2:  Meet with your AuburnBank Originator

  • •Determine the amount and type of mortgage that you may qualify for based on your credit, financial and employment information.
  • •Discuss financing options that match the affordability of the home you wish to purchase.
  • •Complete your loan application with the assistance of your loan originator.
  • •Discuss any questions regarding payments, escrows and the amount of cash you may need for closing.
  • •Obtain any additional documents needed to process your loan application.

Step 3:  Your Loan is Being Processed

  • •An AuburnBank loan processor will prepare your loan for the submission to the underwriter for final approval.
  • •Additional information or documentation may be requested during this process.

Step 4:  Your Loan is Sent to Underwriting

  • •The underwriter will make the final determination on your eligibility for the mortgage loan you are applying for.

Step 5:  Closing Disclosure

  • •An AuburnBank loan closer will prepare a Closing Disclosure for your review.
  • •The Closing Disclosure must be delivered, and receipt documented, 3 days prior to your scheduled closing date.

Step 6:  Your Loan is Sent to the Closing Attorney

  • •Closing documents will be provided to you.
  • •The attorney coordinates the closing, records the closing documents and disburses money to the appropriate parties.
  • •Review closing documents with your AuburnBank Originator.
  • •Determine your closing costs.

Step 7:  Loan Closing

  • •If you need to close on or by a certain date, be sure to communicate this to your loan originator.
  • •Bring a cashier's check or money order for closing costs communicated in Step 5.
  • •Bring any additional documentation requested.

The closing attorney will review all documents with you and answer any questions you may have. Congratulations, you are now a homeowner!

Please contact an AuburnBank Mortgage Originator today. We will be happy to assist you in selecting the right loan or answering any questions you may have.

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  • AuburnBank Tiger Town-Kroger Branch is Relocating!


    Our new full service branch will be located at 1851 Frederick Rd. Opelika, AL (near Lowe’s) and will open on Monday, August 14, 2017.

    This current location will close at 2:00 p.m.on Friday, August 11, 2017.

    We appreciate your business and look forward to serving you at our new location.