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The Loan Process The company I work with is committed to keeping you informed with each step of the mortgage process.
The Operations department of the company this site talks about is designed to keep your loan moving forward towards the closing date. By streamlining their processes, they can close a typical loan in 18 business days - about 30 calendar days. Here is a quick outline of the process they follow:
Anyone looking for speedy home financing can Contact Me with any additional questions. Of course, if you are a Real Estate Professional and you would be interested in learning how you can keep more of the profits originating from all your client's home loans, you are more than welcome to Become an Associate of My Team by visiting that page and filling out the form. Return Home for more valuable FREE information...! In order to find out what your best loan options are, you can start the process by visiting my Loan Helper page and when you submit your contact information in the form on that page, that will let me know you are interested in finding out how I can help you.
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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 in your loan process, your loan officer will hopefully have received all documentation from you that is required for your loan program. Your file is sent to the company's 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.
The company 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 in your loan process, you will have been notified of any additional loan conditions set by underwriting. The company typically has 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.
The company's 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! By this day in your loan process, it 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!
