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WHAT TO EXPECT IN THE HOME LOAN PROCESS ?


Your loan application

First you need to complete a loan application. You can also download a loan package and print it. Once your loan application is faxed or mailed your loan process begins.

Credit evaluation
Upon receipt of loan application online, or via fax along with credit authorizations, we will order a full 3 bureau "Mortgage credit report" with fico scores. A fee of $18.00 is needed to run this report payable by visa.

Credit approval
With a loan application and credit report in hand, your loan officer will get to pre-qualify your loan or get a full approval. This is a same day process with minimal paperwork.

Rate lock agreement
If you are locking a rate, a rate lock agreement is sent to you. You can sign and fax a copy back to processing for your loan rate lock.

The appraisal
Usually with a rate lock, an appraisal is ordered. Let us order the appraisal, we may be able to get a better value for your home and guarantee an on time delivery.

Local title company or settlement agent
If you are purchasing a home, we will contact your Realtor to set up an escrow account. If you are refinancing a current loan, an escrow account is automatically opened on your behalf.

Loan processing
As the loan processing moves on, an individual member of our loan team will be in contact with you to update your loan status, and request any additional documents.

Loan closing
Upon underwriting approval and when all the loan conditions are met, a closing date will be set and loan documents will be sent to your local escrow/attorney or a notary will sign off your loan documents in your home. You do not have to take time off from work.

After the signing of the documents your loan should be funded within 72 hours if all the documents and conditions are met. A deed will be recorded in your name and you will own your own home !

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