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Wooden Stairs

KEY STEPS

IN THE
LOAN PROCESS

2

PROCESSING

  • Gathering & verifying the information collected in the loan application

  • Escrow, appraisal, preliminary title report, employment verification ordered

  • It is important to provide the correct information in a timely manner along with supporting documents 

DOCS IN & DOCS OUT

  • Order, prepare and send loan documents to escrow

  • All conditions have to be reviewed and addressed

  • Lender verifies information is correct

  • Request insurance, HUD Corrections, and find funds from escrow

Image by Kelly Sikkema
Working on Laptop
home keys

5

4

3

1

LOAN  APPLICATION

  • Collecting necessary information needed for the approval of my loan

  • Provide the correct information in a timely manner along  with supporting documentation

  • Can vary depending on your financial solution

Keeping accounts

UNDERWRITING

  • In-depth analysis and preliminary approval for your loan

  • Review of Escrow instructions, preliminary title report and appraisal

  • Conditions may be assigned, resulting in additional supporting documentation

Executive Making a Phone Call

CLOSING

  • Lender coordinates with title and escrow to wire appropriate funds

  • Title records the grant deed into buyer's name

  • Escrow provide final audit dispersing funds

  • Move into your NEW HOME!

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