Our Process

Loan Application

The first step is to complete your loan application. This will allow us to get you prequalified and provide you with mortgage estimates. It is important for us to know everything on the front end so we can advise you properly. 

Pre-Approval

Once you complete the loan application, we will need you to upload all of your documents so we can provide you with a pre-approval letter. This is the most important part of the process. The prequalification letter we provide upfront just tells the seller we have spoken to you over the phone, and, at a high level, everything looks good so far. The pre-approval letter lets the seller know we have reviewed credit, income and assets and pre-underwritten your loan so if they accept your offer, we know we can close.

Finalize Application

Once we lock your rate, a member from our processing team will call you to review your application and go over the additional documents needed to get your loan into underwriting. Once we receive these documents, she will submit your loan to underwriting and order your title and your appraisal. Paige will also send a timeline email to let you know the dates for each step of the process moving forward.

Initial Closing Disclosure (CD)

(STEPS 7, 8, & 9: These may vary in order.)

Due to TRID regulation, we are required to send you an Initial Closing Disclosure (CD) and have you acknowledge it at least 3 business days prior to closing. These numbers will not be final but will show any updated closing costs that have occurred since your initial LE (Loan Estimate). By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received this form. This has to be signed 3 days prior or it will delay closing.

Wire Funds for Closing

Once we have the final numbers, we will call you to discuss and confirm you have received the wiringinstructions from the
attorney.

Review Loan Estimates

After we are done with the initial application, we will set up a call to review the numbers with you in detail and discuss next steps in the process. The main goal of this step is to make sure you are comfortable with your cash to close and monthly payment.

Submit an Offer

Now that you are pre-approved you can submit an offer and go under contract! We will provide you with updated estimates based on that day’s rate and the specifics from your contract. This is the point where we can lock in your rate. We will also send you a list of documents that we need to get your loan into underwriting.

Conditional Approval
and Appraisal

Once the underwriter has reviewed your loan, they will issue a conditional approval. This is the approval we need to satisfy your financing contingency but there will be additional questions needed for final approval. The questions may be related to your documentation, the title, appraisal, etc. Once we receive this conditional approval, we will review it and reach out to you for any items needed for final approval. Please note we will always need any document requests back within 48 hours to keep you on track for closing.

Clear to Close

Once the lender has reviewed and approved your documents, they will issue an official clear to close. Once we get this, we will call you to set an exact closing time. This process typically takes 3 – 5 days. This is also the point of the process where we will need to call your employer and make sure you are still employed. This is called a Verification of Employment (VOE) and will happen the day before or the morning of closing. We will have to speak to someone from HR or your direct manager on a phone line that can be linked to the company (not a cell phone).

Final Closing Disclosure (CD)

Once the numbers are finalized, we will send you the Final Closing Disclosure (CD) and call you to review. This will be the document you sign at closing!