The Loan Process
Step 1: Application
After applying online, over the phone, or in person, your Loan Officer will request basic documentation that you will need to provide. Your Loan Officer will discuss the best loan options for you.
Step 2: Processing
Once you have signed and returned all disclosures, your loan will be sent to the Processor, who will be preparing your file for the Underwriter to review. The Processor may reach out to you for additional information or documentation, and it is very important that you please respond as soon as possible.
Step 3: Underwriting
The Underwriter will typically have a few conditions that either the Processor or the Loan Officer will request from you. Again, please provide these items immediately if requested.
Step 4: Clear to Close
Once you have returned all requested items back to your Processor or Loan Officer, your loan will go back to the Underwriter for final review and approval.
Step 5: Closing
Your Loan Officer will contact you 72 hours prior to closing to review your final numbers. You will need to schedule a closing time directly with the title company. Remember to bring a government-issued photo ID and to sign your full name legibly as shown on the signature line.
Step 6: Funding
After all funds have been received and the monies disbursed to the vendors, the house is officially yours and keys will be handed over to you!