AgWest Farm Credit - Application Process

What to Expect

Upon receipt of your application and authorization, we will request a credit report and review your information.
You will receive a Loan Estimate, for your review. We will need to confirm your intent to proceed within 10 business days in order to continue processing the loan application.
Upon receiving your intent to proceed, supporting documentation for income and assets will be needed.
Your information will be submitted for underwriting; usually, a credit decision is made within two to three business days.
If credit is approved, you will receive a commitment letter listing the conditions of the approval.
We will order an appraisal and title work; the appraisal fee is due at this time. Please note: There may be costs incurred to cancel these orders. If your request is withdrawn after this point, you will be responsible for cancellation fees.
After all conditional items are completed, your file will be submitted for final approval. This step usually takes three to four days for completion.
A Closing Disclosure outlining final closing costs will be provided to you. There is a mandatory three business day period for your review before you can sign loan documents. If the Closing Disclosure is provided by mail, we’re required by law to add an additional three business day time period to allow for you to receive the document.
Your loan documents will be sent to the closer/escrow officer.
An escrow officer will contact you directly to set up an appointment for you to close this transaction.

To process your country home loan request as soon as possible, please consider having the following information available after you've provided your intent to proceed:

Copies of your two most recent pay stubs from all current employers (one full month)
Copies of your last two years’ W-2s for all employers
If you are self-employed, two years of personal and business Federal tax returns with all supporting schedules and a year-to-date profit and loss statement (please sign and date all)
Last two months’ bank statements for all checking and saving accounts (include all pages)
Most recent statements from all investment accounts (please include all pages)
Divorce decree and child support agreement if you wish for income from alimony and or child support to be considered as income to qualify for credit, OR if you are obligated to pay child support or alimony or separate maintenance.
Explanations for any history of late payments on loans or credit cards (if applicable)
Name and phone number of your title/escrow service, if already selected
Name and phone number of your home insurance agent
A copy (front and back) of your driver’s license

THE APPLICATION PROCESS

Upon receipt of your application and authorization, we will request a credit report and review your information.

You will receive a Loan Estimate, for your review. We will need to confirm your intent to proceed within 10 business days in order to continue processing the loan application.

Upon receiving your intent to proceed, supporting documentation for income and assets will be needed.

Your information will be submitted for underwriting; usually, a credit decision is made within two to three business days.

If credit is approved, you will receive a commitment letter listing the conditions of the approval.

We will order an appraisal and title work; the appraisal fee is due at this time. Please note: There may be costs incurred to cancel these orders. If your request is withdrawn after this point, you will be responsible for cancellation fees.

After all conditional items are completed, your file will be submitted for final approval. This step usually takes three to four days for completion.

Your loan documents will be sent to the closer/escrow officer.

An escrow officer will contact you directly to set up an appointment for you to close this transaction.

Copies of your two most recent pay stubs from all current employers (one full month)

Copies of your last two years’ W-2s for all employers

If you are self-employed, two years of personal and business Federal tax returns with all supporting schedules and a year-to-date profit and loss statement (please sign and date all)

Last two months’ bank statements for all checking and saving accounts (include all pages)

Most recent statements from all investment accounts (please include all pages)

Divorce decree and child support agreement if you wish for income from alimony and or child support to be considered as income to qualify for credit, OR if you are obligated to pay child support or alimony or separate maintenance.

Explanations for any history of late payments on loans or credit cards (if applicable)

Name and phone number of your title/escrow service, if already selected

Name and phone number of your home insurance agent

A copy (front and back) of your driver’s license