Step 1 :       Documents Required

In order to protect your rate and get the best price possible, we will need the following information. "TIME IS OF THE ESSENCE" :

• Full loan application
• Two most current paystubs; Self employed or Commission based income will require a tax return (all pages)
• Two months recent bank statements (all pages even if blank)
• last 2 years w2's
• IF you have a title company you prefer please advise
• Recent mortgage statement or loan information
• to order payoff
• Contact information for your hazard insurance
• Copy of existing survey

Once all information is received your loan processor will verify and validate all documents .Your loan will be packaged and submitted to one of our preferred lenders

Step Two :  Disclosure and Underwriting

Within 3 to 5 days of loan submission the Lender will send you "Truth in Lending Disclosures" either by mail or email.

If sent by email, please open the attachment and respond that you have received the documentation. 

If sent by postal mail, no response is required.

Your loan will be underwritten and the appraisal will be ordered. At this time the underwriter may condition for additional documents that will need to be satisfied prior to final approval.

Step Three : Appraisal

In June,2009,a new law passed by Congress requires that all Conventional Appraisals be ordered directly from the lenders. Because of this law, appraisals must be paid for upfront with a credit card. 

The appraiser will contact you directly for an appointment to complete the appraisal. Please do not delay the appointment, timing is crucial because appraisals can take anywhere from 3 days to two weeks and we have no control or influence in this process. Once the appraisal is complete the lender will send you a copy for review.

Step Four : Final Approval

Once all conditions have been approved  and your appraisal is cleared, a final approval or "CLEAR TO CLOSE " will be issued.

The loan will then move into the closing department, where all closing papers will be prepared and sent to the title company.

Step Five :    Title Closing and Funding

Once the Title Co. has docs a "HUD or Settlement Statement" is prepared & reviewed by the lender & loan officer for approval.

Once approved, we will forward a copy to you for review and schedule an appointment for the closing.

At closing, you will need two forms of ID (1 picture)and if funds over $500 are required, you will need a cashiers check. The closer will explain all documents at signing and after a three day right of recision, the loan will fund.