|
|
|
 |
 |
|
|
| 1.
|
Within 24-72 hours of receiving your application, you will
receive your loan pre-approval notice via email and/or telephone, along
with your Personal Mortgage Analyst's name and email address. You will
be emailed your new loan's paperwork, including the specifications of
your new loan such as the interest rate, loan amount, down payment
required (if applicable) and payment. You will also be given a list of
the documents that will be required in order to close your loan (such as
pay stubs, W2's, etc...). |
|
|
| 2. |
Once you receive the loan papers and agree to the terms of your
new loan, you need to sign the papers and return the (overnight/mail) to your
Analyst along with the documentation that was requested.
* The faster you sign and return these papers/documents, the faster we will be able to close your loan! |
|
|
| 3. |
As soon as we receive your signed papers & documentation, we will
order the appraisal on your property. You will need to be prepared to
pay the appraiser for his services when he arrives (typically this
charge is between $250-$350). We usually receive appraisals back within
2-10 days, depending on your area's appraiser. |
|
|
| 4. |
Once we receive the appraisal, we will send your complete loan
package to our underwriters. |
|
|
| 5. |
While your file is in underwriting (which can take 1-8 days), we
will order title work from a title company in your city, and the
mortgagee clause on your homeowner's insurance is updated to reflect
your new mortgage company. |
|
|
| 6. |
We receive & clear any final conditions for closing from the
underwriter (if there are any), schedule the closing date with your
local title company, and; |
|
|
| 7. |
YOU CLOSE! |
|
|
|
