The Loan Process
The Client's Insight to the Loan Process
- Loan application completed online
- Credit check and property value check
- Consultation to choose best program to meet your needs, submit to us supporting documentation, and sign beginning disclosures
- Loan is submitted to lender for credit approval<
- Appraiser will call you to schedule appraisal
- Lender underwrites file and issues "Conditional Approval"
- We gather final conditions for full approval
- Lender reviews conditions and issues "Clear to Close"
- Schedule closing
- Lender sends closing instructions to title company to create closing documents and HUD (settlement statement)
- Cash outs only review & sign HUD 24 hours prior to closing
- Sign final documents during closing at title company *Please be sure to bring picture identification.
Purchases will fund the same day of closing if done early in the day, if not the wire will be received the next business day.
Refinances and cash outs have a "Three Day Right of Rescission" and will not fund until the fourth day after the closing. (Saturdays count in the rescission period, but Sundays do not.)
