THE LOAN PROCESS

 

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Prequalification Interview
– Application interview, Lender obtains all pertinent documentation

Order Documents – Credit report, appraisal on property, verifications of employment, mortgage or rent, and funds to close, landlord ratings, preliminary title report

Loan Submission – The loan package is assembled and submitted to the underwriter for approval

Documentation – Supporting documents come in, lender checks on any problems, requests for any additional items are made

Loan Approval – Parties are notified of approval

Documents are drawn – Loan documents are completed & sent to closing attorney, borrowers come in for final signatures

Funding – Lender reviews the loan package, funds are transferred by wire, you get keys!

Recording of Documents –  Attorney records the deed of trust at the county recorder’s office, recorded deed is mailed to you with in 60-90 days.