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- Step 1: Application obtained from borrower
- Step 2: Credit Verification & Employment Verification
- Step 3: Advise borrower what interest rates are available based on their credit
- Step 4: Appraisal Ordered and check collected on appraisal
- Step 5: Evaluate credit, Employment. Appraisal
- Step 6: Assemble completed Loan Package and send out to borrower for signatures
- Step 7: Receive package back from borrower with any necessary documents needed such as: W2, paystubs, 1099, CPA letter or last two years business license for self-employed (these items will be listed on the cover sheet when we send out your loan papers)
- Step 8: Submit to Underwriter
- Step 9: Approved with conditions to be satisfied (when we get in your loan conditions we will immediately advise you what is needed to get your loan closed quickly and efficiently)
- Step 10: Loan receives a clear to close
- Step 11: Lender prepares documents and sends to title company
- Step 12: Buyers and Sellers sign closing documents at title company who then sends documents back to the underwriter for final approval and recording
- Step 13: Loan funded to title company and the funds are disbursed.
You're done and your refinance or purchase is complete!
