At Merchants and Planters Bank Home Loans, we strive to make the mortgage process as seamless as possible.  Below are the steps that are generally required to obtain a mortgage:

1.  Complete a loan application:  This can be done online via this website, over the phone with your loan officer or at our branch location on Poplar Avenue in Memphis, TN.

2.  Have your credit report checked:  Your M&P Bank Loan Officer will pull a copy of your credit report to understand your complete financial picture and make certain that you meet qualifying guidelines.

3.  Gathering of Income and Asset Documents:  Your Loan Officer will let you know exactly what documents will be needed from you to obtain loan approval.  Typically this might include your pay-stubs, bank statements, drivers license, W-2 Forms, tax returns, etc.

4.  Initial Loan Disclosures:  Within 3 business days (as required by law), you will receive a set of loan disclosures that will detail out the specifics of your loan.  You will need to sign these and return them back to your loan officer (this can be done via email).

5.  Title and Appraisal:  Your loan officer will order an appraisal on the property as well as coordinate with the title company to obtain a title report and title insurance.

6.  Underwriting Approval:  Once you have provided your loan officer with the requested loan documents, M&P Banks in house underwriting staff will review these along with your appraisal to see if any additional items are needed to obtain final approval on your loan.

7.  Closing Documents Shipped:  Once your loan is fully approved, M&P Bank's Closing Staff will then email the loan paperwork to the closing attorney.

8.  Cashier's Check:  Once the attorney has reviewed the loan paperwork, they will provide us with an amount you will need to bring to closing in the form of a cashier's check.  This is typically provided 72-48 hours prior to closing.  Your loan officer will call or email you to let you know the exact amount you need to bring as well as who to make the cashier's check out to (usually the attorney).

9.  Sign and Fund:  You will then go to the attorney's office, sign the required paperwork and M&P Bank will fund your loan!  We will always be available for questions should they arise after closing.