The Process and What To Expect

Step 1 - Apply For Your Loan

Go to my Apply Now button and complete your application.

Once I have your application, I will issue you a PreQualification Letter and call you to discuss loan options.

Please review the Do’s and Don’t Tab from the above  “More” drop down.

Step 2 - Gather Your Documents

Click on the Checklist Tab

Gather and provide the documents listed on the tab. This will not cover everything we will ask you for, but it should cover 95%

Step 3 - The Scrub

This is a process (not official term) that we perform within approximately 48-72 hours from receiving your welcome documents listed above. We review all of your documents thoroughly to avoid any issues with underwriting. We will provide the review details that typically require a few additional pieces of documentation (credit inquiries, deposit explanations, missing pages, other). To maintain the timeline of our process we look to have these documents back within reason in about 48-72 hours.

Step 4 - Setup

Once we have a complete file we will submit the loan request to our set up team that will order tax return verification, social security verification, employment verification and other background check details to confirm the application details. They also order the appraisal inspection and title work for the property. They complete this process or at least the requests out to vendors and employers within 24-48 hours.

Step 5 - Processing

The processor will then review the file in full (yes a second time) to make sure we have a complete file and then 9 out of 10 times is able to turn into underwriting.

Step 6 - Underwriting

This is the big moment! Underwriting takes about 48-72 hours on average and will review the file in full. By now most of the pieces are in line for approval (subject to the appraisal and title in most cases). As good as we are at turning in the loan for underwriting, they sometimes request a couple documents to complete the file. We send the approval notice with these items to you right away. Again, look to have these final items into us in about 48-72 hours if available.

Step 7 - Final Submission

When all other items needed for underwriting from you as well as the appraiser, title company, realtors, law office, home insurance company and employers are in, we send your file in for a clear to close. Don’t worry, we keep track of all the moving parts and keep you updated each Tuesday through the process.

Step 8 - Closing Disclosure

By Federal Law, you must sign your CD ( Closing Disclosure ) 3 days prior to your closing by midnight before the three day period begins. For Federal Law purposes, Sundays and Federal holidays are not considered a day. If any party to the loan fails to sign the CD prior to the 3 days, your closing will be delayed to allow for the 3 day review period. This is the final form with your monthly payment and funds to close that will need to be wired to the law office. Our team will give you all the instructions at that time or just prior to prepare you for closing. 

For example, if your loan is closing on Friday, you must sign your CD by midnight on the Tuesday prior to the Friday of your closing. 


Step 9 - Wiring Your Funds For Closing

Jill Brannon or Debbie Brown will contact your regarding the location of your closing. In addition, you will receive wiring instructions in order for you to go to your bank and wire the funds necessary for your closing. The Closing attorney WILL NOT ACCEPT a cashier’s check or personal check. 

Step 10 - Closing Your Loan

Congratulations! You made it! If at all possible, I will attend your closing just to check on you and answer any questions you may have for me.