Submitting & Processing Your Mortgage Application

The i's have been dotted and all the t’s are crossed. You've gathered together all of your documentation, and you’re ready to submit your mortgage application. At this point in the process, anticipation runs high—yours and ours! It is our goal to match you to a workable home loan scenario. It’s why we're here.

Disclosures and other important information

Before taking your application, your Mortgage Development Officer will go over different mortgage options for you to consider. Once you have selected the mortgage program that is right for you, we will provide you with the following legal disclosures to sign and return:

Loan Estimate (LE)

The LE includes the credit terms for your loan as well as an itemized list of estimated fees and closing costs related to your loan.

Intent to Proceed

By signing and returning the Intent to Proceed, you are letting us know you wish to proceed with your loan application. After taking your application, you will be provided with a package including a variety of important information that your Mortgage Development Officer will go over with you, as well as a list of any additional documentation needed to support your individual application. Failure to provide the requested documentation will cause delays in your home loan closing process.

Submit all required mortgage documents

It’s important to provide copies of any documents required for your mortgage as soon as possible to prevent delays in processing. After you gather all documents, sign disclosure documents, and forward copies of all requested information via fax, secure email, postal mail, or at any of our convenient branch locations. These documents will not be returned, so it’s important to keep the originals for your records.


Once the documentation has been received, the bank can then review your loan request. You will receive either a Mortgage Commitment Letter to move forward in the process, or a Disposition Letter, which could be a request for additional information or a denial of your loan request. Your Mortgage Development Officer can answer any questions you may have.

Lock in your interest rate

This step can be taken when you begin your application or anytime up to 12 days before your loan is closed. You may be required to pay a lock fee in order to lock in your rate. Make note of your locked interest rate and the date for future reference.

Conditional mortgage approval & Mortgage Commitment Letters

If your loan is approved, your Mortgage Development Officer or Loan Processor will call you to notify you that you have received conditional mortgage approval, based on a review of the information and documents you have provided.

At that time, we will let you know what further documentation may be pending or required, such as employment or income verification.

You may receive a Mortgage Commitment Letter as part of your conditional approval. Getting a Mortgage Commitment Letter brings you closer toward a home loan, if certain conditions are met and the applicant(s) successfully complete(s) the underwriting process.

The Mortgage Commitment Letter typically states:

Avoid taking on new debt without checking with your Mortgage Development Officer while your loan is in process. New or increased obligations may impact your loan approval.

  • Any conditions required to move forward
  • The term over which the mortgage must be repaid
  • The interest rate for the loan, if you have locked in your rate
  • The expiration date of the commitment

Property appraisal and title search

A property appraisal will be ordered after your application is complete. The mortgage appraisal is conducted by a certified appraiser and is submitted to Santander for review. Once we have determined that the appraisal is complete, we will send you a copy for your records.


Once you have designated a closing agent or attorney, we will contact them to obtain the title information for the property. The fees associated with both of these services will be included in the closing costs and are reflected on the Loan Estimate that was included with the package of Disclosures and Other Important Information previously provided to you.

Home inspection

If a home inspection is specified as a requirement in the Purchase Agreement, ensure that the home inspection is completed as soon as possible and before the expiration of any stated contingency date. The goal of the inspection is to identify any issues with the home that might require further action. If the inspection identifies any issues, you should discuss them with your real estate agent to determine what options you may have.

Collect and return any outstanding documentation

Feel like we’ve been here before? You may need to provide additional documentation at several points throughout the mortgage application process. Your Mortgage Development Officer or Processor will alert you of any outstanding documentation required. It’s critical that you return outstanding documents as soon as possible in order to avoid a delay or expiration of your application.

Homeowner's Insurance

Proof of homeowner’s insurance covering your property must be provided to us before your loan closing. When obtaining your policy you must ensure that Santander Bank, N.A. is named as the mortgagee, along with the correct mailing address, and your name as it appears on the loan documents. Most conventional loans should be labeled as:

Santander Bank, N.A.
Its Successors and/or Assigns
PO Box 961292
Fort Worth, TX 76161-0292


For purchases, you will need to provide a one-year policy and paid receipt at or before closing.


For refinances, you will need to provide the declarations page of your current insurance policy.


If you live in a flood zone, federal law requires you to maintain and provide proof of flood insurance coverage. Flood insurance will also be required if the property is in a Special Flood Hazard Area. Your Mortgage Development Officer or Processor will let you know if this is a condition of your loan. As required by law, we will escrow for your flood insurance payment.

Final mortgage approval

Although you may not have spoken to them directly, rest assured that our underwriting department has been involved along the way, reviewing your information and documents, as well as information related to the property. Once everything is in hand, the file goes back to our underwriting department for a final sign-off.

Sometimes, the documentation you provided may not be all that we need or may raise additional questions or the need for additional information.

Admittedly, this part of the mortgage application process can often be frustrating for a borrower. But we must follow industry and regulatory requirements throughout the loan process.

An underwriter may ask to clarify a bank statement, or if a gift fund was deposited. They may even come back and ask for what seems like a very unnecessary document. We can assure you that no underwriter asks for documentation without a specific reason. Their job is to protect you, as well as the bank, which is exposed to a great deal of risk in extending these large dollar amounts.

Assuming we’ve provided everything that was asked for and any property issues from a mortgage appraisal or title report have been addressed, the underwriter will provide final mortgage approval for funding! Now it’s time to schedule your closing, and get into your new home.

 Equal Housing Lender. Santander Bank, N.A. (NMLS# 494788) is a Member FDIC and a wholly owned subsidiary of Banco Santander, S.A. ©  Santander Bank, N.A. All rights reserved. Santander, Santander Bank and the Flame logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners.