THE LOAN PROCESS A SERIES OF STEPS TO REACH THE FINISH LINE
Pre-Approval
You will be asked to provide personal information and the specifics on the type of property you wish to purchase. The lender will update the information and documentation that has already been submitted. Your mortgage package will be reviewed and processed. After your loan package has been processed, it is submitted to the underwriter for approval. All parties are notified of the approval and loan documents are sent to the title and escrow companies. The title company makes sure that the property title is clear and legitimate. Then title insurance is issued. Once you have signed the loan documentation, your lender reviews the loan and upon approval, funds are wire-transferred to the title company. When the title company has all of the funds needed, they will record the transfer of title and you'll be recorded as the new owner of the home.
Full Application
Processing Loan Submission
Loan Approval
Title
Funding
Recording
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