The Loan Process

1. Pre-Approval

  • Application interview
  • Lender obtains all pertinent documentation; including credit report, verification of assets and funds, and employment verification, if necessary.

2. Order Documents (after opening escrow)

  • Appraisal on property, preliminary title report, subsequent verifications of employment, mortgage or rent, and funds to close.

3. Loan Submission

  • The Loan package is assembled and submitted to the underwriter for approval.

4. Documentation

  • Supporting documents come in.
  • Lender checks on any problems.
  • Requests for any additional items are made.

5. Loan Approval

  • Parties are notified of approval.

6. Documents are Drawn

  • Loan documents are completed and sent to escrow.
  • Borrowers come in for final signatures.

7. Funding

  • Lender reviews the loan package.
  • Funds are transferred by wire.

8. Recording of Documents

  • Title Company records the deed of trust at the County Recorder’s Office.
  • Escrow is now officially closed and you can take possession of your new home.