The Loan Processs

Congratulations! Your loan originator receives your sales contract or purchase agreement for your property. You complete the full loan application and get a list of any required documentation you need to provide.

By this day, your loan officer will hopefully have received all documentation from you that is required for your loan program. Your file is sent to our Operations department who will then contact you if your file is missing any documentation. Your loan officer will also order an appraisal of your property.

The Operations team will request title on the property and will request a copy of your homeowner’s insurance policy.

Your loan file is now submitted for underwriting for assessment and approval.

We will generally receive an underwriting approval with conditions at this time. You must meet these additional conditions before you will be ready to close.

By this day, you will have been notified of any additional loan conditions set by underwriting. We typically have received the appraisal and the title policy.

Any additional conditions set by underwriting should have been met at this point and any additional documentation has been submitted to underwriting.

Congratulations! Your loan has been issued a “Clear to Close” which means all conditions have been met and a closing package can now be issued.

Our Operations team will prepare the closing package and issue to the closing attorney.

The closing attorney will review the closing package and prepare an initial HUD-1 Settlement statement for review by you, your realtor, and your loan office to ensure accuracy.

You made it! Today is your loan closing date. You will sign all documentation in your loan closing package and your deed will be recorded. You should be handed the keys to your new house!