10 Step Loan Process
Loan Application
First, we need to complete the application and gather your documentation. This allows you to move forward to the home search.
Review Loan Estimates (LE)
We will discuss your preferred sales price and monthly payment. We also review all the cost associated with a home purchase so you can make informed decisions.
Pre-Approval
Once we know what you are comfortable with price wise, we will issue the pre-approval for your agent to use when making offers.
Submit Offers
Now that you're pre-approved, work with your trusted real estate agent to make offers and go under contract on a home you love.
Submit to Processing
Here is where we gather updated documents, lock your interest rate, order your appraisal, and submit your file to underwriting.
Conditional Approval
An underwriter reviews your file and will request additional documentation if any questions come about. We will also continue working on third party items such as the appraisal and title work.
Review Initial Closing Disclosure (CD)
Legally, we need you to acknowledge your estimated closing disclosure at least 3 business days prior to closing. By signing this, you are only confirming you have received the estimate.
Clear to Close
This is the milestone that let's us know we are officially approved to close on your home! We will still need to finalize numbers and complete a verification of employee to ensure your circumstances haven't changed.
Wire Funds for Closing
Once we have the final numbers, we will have you wire the remaining funds to the closing attorney.
Closing Day!
Yay! You made it to closing day. This is when you will sign your final CD with the attorney and the loan will be funded. You are officially a homeowner, time to celebrate!
*Some steps may vary
Please note - reviewing your initial cd, receiving your clear to close and wiring your funds may vary in order.