Associated Mortgage | Mortgage Brokers
Posted on May 22, 2025
Associated Mortgage | Mortgage Brokers in Utah
Associated Mortgage has been around for over 30 years. They have an AAA rating with the BBB and hundreds of satisfied customers who come back time after time because of their low rates, product knowledge and customer service. They pride themselves on clear communication, integrity, and timeliness. Associated Mortgage partners well with Real Estate Brokers, Title Companies, and Wholesale Lenders. They are a family oriented company, licensed in Arizona and Utah.
What Is a Mortgage Broker?
A mortgage broker is a licensed professional who connects borrowers with lenders, helping clients find the best loan options based on their financial needs. They assess the borrower’s needs, compare loan products from various lenders, and guide clients through the application and approval process. Mortgage brokers save clients time and effort by negotiating terms, securing competitive interest rates, and ensuring compliance with lending regulations, ultimately making the mortgage process smoother and more efficient.
Why Use Associated Mortgage?
Associated Mortgage is a trusted mortgage brokerage that connects borrowers with a wide range of loan options from multiple lenders. Unlike banks that offer limited in-house products, they work on your behalf to find competitive rates and loan terms that fit your needs. Whether you’re buying a home, refinancing, or investing, their team offers expert guidance and support throughout the process. From comparing lenders to handling paperwork, they simplify each step to save you time and money. With a focus on personalized service and transparency, Associated Mortgage makes home financing more flexible, efficient, and tailored to your financial goals. They have a team of Brokers, Loan Originators, Loan Processors, and assistants, working together for your benefit and will be with you every step of the way.
Steps of the Mortgage Process –
1. Prequalification or Preapproval
Purpose: Estimate how much you can borrow based on your income, assets, debts, and credit.
Details:
Prequalification: A soft credit pull with self-reported info; quick but less reliable.
Preapproval: A hard credit pull and documentation review; stronger when making offers.
2. Mortgage Application
Purpose: Formally begin the loan process with a lender.
Details:
You complete a Uniform Residential Loan Application (URLA – Form 1003).
You provide documentation: ID, income, tax returns, bank statements, etc.
3. Loan Estimate (LE)
Purpose: Inform you of the estimated interest rate, monthly payment, and closing costs.
Details:
Must be provided by the lender within 3 business days of application.
Helps you compare offers from multiple lenders.
4. Processing
Purpose: Prepare the file for underwriting by verifying all documents.
Details:
Loan processor checks your employment, income, credit, and assets.
Orders third-party items: appraisal, title report, homeowner’s insurance.
5. Home Appraisal and Inspection
Purpose: Ensure the property is worth the purchase price and safe to live in.
Details:
Appraisal: Required by the lender to confirm value.
Inspection: Optional but recommended to check for property defects.
6. Underwriting
Purpose: Assess the risk of the loan and issue a conditional decision.
Details:
Underwriter reviews the full file (income, credit, assets, property).
Issues a conditional approval (with a list of “conditions” to be met).
7. Conditions and Final Approval
Purpose: Satisfy all conditions needed for the loan to be cleared to close.
Details:
You or your loan officer submit any missing or updated documents.
Underwriter gives Clear to Close once all conditions are met.
8. Closing Disclosure (CD)
Purpose: Final summary of loan terms and closing costs.
Details:
Must be provided at least 3 business days before closing.
Compare it to your original Loan Estimate for discrepancies.
9. Closing (Settlement)
Purpose: Sign final documents and fund the loan.
Details:
Sign the note, deed of trust, and other required forms.
Pay your down payment and closing costs (often via wire or cashier’s check).
The lender funds the loan and title transfers to you.
10. Post-Closing
Purpose: Finalize the loan transfer and begin repayment.
Details:
Loan may be sold to another servicer.
You’ll receive your first mortgage statement and begin monthly payments.
Other Associated Mortgage Benefits.
Associated Mortgage has a video library available to its clients and Real Estate partners teaching the ins and outs of the Real Estate and Mortgage business. They believe that an educated borrower will make better choices. They have a free mortgage analysis to determine if your mortgage is meeting your needs. A free home evaluation tool to help identify the value of your home. And maybe most importantly, a live person to talk to every time you call.