TILA is the abbreviation for the Truth-In-Lending Act, the federal law that governs all mortgage loans. The main purpose of the Truth in Lending Act is to assure the meaningful disclosure of consumer credit terms, including those in advertisements, so that consumers can easily compare terms and shop wisely for credit. Before passage of the Act, an advertiser might have used only the most attractive credit terms, thus distorting the true cost of the credit. As a company, TILA Mortgage is dedicated to the Truth-in-Lending Act and strives to maintain full compliance with all aspects of the Act to insure consumers always receive full, legal disclosure. Consequently, as the feedback from our clients substantiates, TILA Mortgage truly stands for "truth-in-lending".

1. TILA Mortgage subscribes to a nationwide computer network of lenders that provides their daily rates on a real time basis.  This technology enables our loan officers to quickly locate the lender(s) in the network, anywhere in the nation, that is offering the lowest rate for a particular loan type at that point in time.  Further, the majority of these lenders do not offer their loan products directly to the public, instead they are offered only through broker companies like TILA Mortgage.
2. TILA Mortgage is an established local company that has an outstanding reputation in the community.
3. TILA Mortgage gives back to the community that its clients and its employees both work in and live in by providing financial support to local charitable causes.  TILA Mortgage is an Ambassador level donor to the Humane Society as well as a financial supporter of the Progressive Animal Welfare Society (PAWS).  If you would like to make a donation to help the orphaned animals in our community find a loving home, please contact TILA Mortgage regarding a matching donation.
4. Because TILA Mortgage is confident that it can deliver the “right” loan to you at the “right” interest rate with the “right” closing costs.  TILA Mortgage can do all this and will close your loan in a timely and professional manner and, we have thousands of satisfied clients to prove that we are experts at it!
5. Because TILA Mortgage has proven all the above over the last 8 years and has earned an “A” rating with the Better Business Bureau.

1. Your TILA Mortgage Consultant will take your loan application information right over the telephone from you.  The average time to complete this is approximately 7 minutes.
2. After your information is entered into our loan origination system we will e-mail you a (1) consent form for pulling your credit and (2) a recital of your loan information for you to review and confirm.  We ask that you sign both documents and return them to us by fax.
3. Upon receipt of the above two forms your TILA Mortgage Consultant will pull your credit report(s) to obtain a pre-approval for your loan.  At this point you may choose to lock in your interest rate or you may choose to “float” it.

   NOTE: You will pay an independent appraisal management company directly for your appraisal, but at no time will TILA Mortgage ever ask, or accept, any upfront funds from you.

4. You will now be e-mailed your completed loan application and all state and federal disclosures.  We ask you to sign all these documents and return them to us by fax.  Upon receipt of these signed documents your Mortgage Consultant will order an appraisal of your home.
5. You are then requested to provide the following information to document your loan:
   • W2’s for the last two tax years or, tax returns if self employed,
   • Pay stubs for the last 30 days,
   • Checking account statements for the last 2 months (all pages required),
   • Contact information for the homeowner’s insurance policy,
   • And if a purchase, (1) a copy of the Purchase and Sale Agreement and (2) documentation of the source of the down payment.
6. Your loan application, along with the supporting documentation, is then submitted to a mortgage loan underwriter.  The underwriter reviews your documentation to insure the loan conforms to all lender guidelines.  Additional information may be requested from you at this time to clear any noted underwriting “conditions”.
7. Assuming your loan conforms to all underwriting guidelines, the underwriter approves your loan and closing documents are created.
8. The closing documents are forwarded to the closing agent, generally an escrow company associated with the issuer of the title policy.  The escrow agent schedules a time for the closing with you.
9. If your loan is for a purchase the loan is generally funded on the following business day.  If the loan is a refinance, in accordance with federal law, 3 business days must pass before the loan can be funded.

The average time to complete the loan process is generally 15 to 30 business days from receipt of all loan documents.

TILA Mortgage has a big soft spot in its heart for the pets that truly make our houses a home.  TILA Mortgage is an Ambassador level donor to the Humane Society as well as a financial supporter of the Progressive Animal Welfare Society (PAWS).  If you would like to make a donation to help the orphaned animals in our community find a loving home, please contact TILA Mortgage regarding a matching donation.