Whether you are going through a refinance or purchasing a brand new home there are certain steps that the loan process follows.
- Electronic Loan Application and Document Package
- You will receive a secure link to eSign your documents, saving you valuable time.
- A Loan Estimate (LE) is included in this package. This is an itemized list of the fess that you may be charged for your home loan transaction.
- Loan Approval
- Once your loan application is reviewed, you may be asked for additional documentation.
- Return the requested documentation to your loan agent as quickly as possible.
- Appraisal
- A licensed appraiser will need to inspect the property and determine a value. (If your loan application receives a property inspection waiver, no appraisal will be needed)
- The appraisal cost is typically paid prior to the inspection.
- Closing Disclosure
- This is the final list of fees that you will be charged for your loan.
- You will receive this document at least three days prior to your closing.
- Verbal Verification of Employment
- A call will be placed to your employer; it is important that they respond promptly.
- Final Closings
- When your loan s fully approved, your employment has been verified, and you are ready to close on your home, we will schedule a convenient time to sign the final documentation
