Step 1:  The Application

The key to the loan process going smoothly is the initial interview.  At this time, we make every effort to obtain all pertinent documentation so unnecessary problems and delays are avoided.

Step 2:  Ordering Documentation

After you apply for your mortgage, we request an appraisal, title work, verifications of employment, assets, mortgage and/or landlord payment history and any other necessary supporting documentation that is needed to get your mortgage approved and closed.

Step 3:  Awaiting Documentation

As we receive the necessary documentation, we check for any problems that might arise and request any additional items we may need.  During this time, we keep you and the Realtors (if applicable) informed as to the loan’s progress through weekly status calls.

Step 4:  Loan Submission

Once all of the necessary documentation is in, the processor puts your file together in the necessary order and submits your file to our underwriter.

Step 5:  Loan Approval

Loan approval generally takes anywhere from 24 to 72 hours.  All parties are notified of the approval and any loan conditions that must be received and satisfied before the closing can be scheduled.  The loan approval is the beginning of the closing process.

Step 6:  Scheduling A Closing

Once we have been given a “Clear To Close” approval by our underwriter, we can schedule your closing.  Closing is the day you sign your documents.  We like to refer to this day as Celebration Day.

Step 7:  Your Pre-Closing Package

The time and date to close the loan are now set and 24 to 48 hours prior to the closing on your purchase, we will review your pre-closing package.  This contains a copy of the mortgage documents that the title company will have at your closing for you to sign.  You will also be advised as to the amount of money you need to bring to the closing, if applicable.

Step 8:  Celebration Day!

You will meet with us and the title company’s closing officer to sign the necessary loan documents.  If this transaction is a purchase, the funds will be immediately disbursed to the appropriate parties.  If it’s a refinance, the funds will be disbursed on the 4^th business day after you sign your documents.  Your transaction is now complete and your new loan is in place!