Step 1: Apply Online or by Phone.
Congratulations, you have completed your application!
Step 2: Loan Officer Review.
A Loan officer has been assigned to your file and will review your application and run it through our Automated Underwriting System to obtain an automated approval based on your credit report and the information provided in your application.
If you have not yet locked in your interest rate, Your Loan Officer will contact you to review pricing options and lock in your rate.
Step 3: Initial Processing.
Your application will then be assigned to a Loan Processor who will email you a list of required documentation and instructions on how to upload the documents using our secure website portal. It is important that you submit your documentation as soon as possible to ensure the loan process stays on track and your loan closes on time and within the lock period.
If required, an appraisal will be ordered and the appraiser will contact you to schedule an appointment. It is important that you schedule the appraisal appointment as soon as possible to ensure the loan process stays on track and your loan closes on time and within the lock period.
From this point forward your Loan Processor will be your main point of contact.
Step 4: Initial Underwriting.
Our Underwriting Team will review your documentation to confirm that you meet program guidelines. Underwriting will prepare a list of any additional documentation required and conditions of approval.
Step 5: Final Processing.
Your Loan Processor will work with you and third party vendors to obtain any additional documentation required. It is important that you submit your documentation as soon as possible to ensure the loan process stays on track and your loan closes on time and within the lock period.
If required, the appraisal will be received and added to your loan file.
Your Loan Processor will send you a Final Loan Estimate to review and approve. It is important that you review this document to make sure everything is in order, including the amount of funds required to close.
Step 6: Final Underwriting.
Our Underwriting Team will review the appraisal and sign off on the earlier underwriting conditions that have now been satisfied.
In rare instances, the underwriter may require additional documentation or conditions based on new information. It is important that you submit your documentation as soon as possible to ensure the loan process stays on track and your loan closes on time and within the lock period.
Step 7: Closing Disclosure.
Your Loan Processor or our Disclosure Team will send you a Closing Disclosure to review and approve. You must acknowledge receipt of this document in writing or by email response in order to keep your file moving forward.
Step 8: Doc Drawing.
Our Closing Team will communicate with you and your Settlement Agent to coordinate a date and time for you to sign your loan documents (Note, Deed, etc). The earliest date you can sign by law is the third business day following your written acknowledgement of the Closing Disclosure.
Your loan documents will then be drawn and sent electronically to your Settlement Agent.
Step 9: Doc Signing.
Your Settlement Agent or a Mobile Notary will meet with you to sign and notarize your loan documents.
Step 10: Closing.
Your Loan Closer will run a soft credit report to ensure your debt has not increased since the time of your application. It is important that you do not take on any new or increased debt during the loan process as this could result in you no longer qualifying for the loan.
Your Loan Closer will also verbally verify with your employer your continued state of employment. If at any time during the loan process your employment status changes, it is important that you notify your Loan Processor right away to confirm that you still qualify for the loan.
Your Loan Closer will then initiate a wire transfer to your title company.