Why Close Your Own Loan?

Here at Magnolia Bank, we use a state of the art automated underwriting engine.  This sophisticated computer underwriting system is able to analyze every aspect of an applicant’s ability to qualify and has streamlined the loan process to the point that we no longer need an employee who reads underwriting guidelines and manuals to understand who qualifies for which loan. 

Don’t worry.  You won’t have to figure out how to use this system.  Once you complete the online application and send the requested information to one of our experienced Loan Originators, they will run your file through this automated underwriting engine.  Your Loan Originator will confirm that your loan is pre-qualifed by the automated underwriting system and a loan pre-qualification will be issued at this time. 

Once your loan is pre-qualified by the automated underwriter, your personal Loan Originator and Processor will order the appraisal, submit your loan for final approval, draw your final loan documents and handle every step of the process.   

Our online rates get you started.  Our expertise gets you funded.  Click Get Rates to see how easy it is to Close Your Own Loan.     

Speak With A Loan Originator 

Would you prefer to speak with a Loan Originator over the telephone?  Please call us directly at   1-800-276-CYOL(2965) and choose option 1.  Or, click here to have one of our experienced representatives contact you directly. 

**Loan Qualifying Assumptions:
All online rate and payment quotes issued by the online mortgage system assume a middle credit score of 740 or higher and a debt to income ratio under 43%. There may be adjustments to the terms depending upon your actual credit score, debt to income ratio, county loan limits, etc. The minimum credit score required is 620. Not all applicants will qualify.