| Step #1 |
Mortgage Loan Application and mortgage process |
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- After your general information is received, we will forward the information to up to three lenders licensed in your area. Since they will be competing for your mortgage loan application, you can be assured of getting the best rate.
- The lender will then call you and provide you with a variety of mortgage programs available to you. Only the one that best suits your needs will be chosen.
- You then provide the financial information to the lender licensed in your area, such as employment information, payment for monthly bills, savings, and other liquid assets, this will go on the mortgage loan application.
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| Step #2 |
Request for Approval |
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- Your financial information and credit is submitted for mortgage loan analysis and approval. This is the start of the mortgage loan process.
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| Step #3 |
Appraisal, Title and Escrow |
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- Once you have chosen the lender you feel comfortable with, they will order an appraisal to determine the market value of your property and a title report to determine if there are any liens or encumbrances on the property.
- Escrow company opens escrow and prepares for closing date.
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| Step #4 |
Request for Final Approval! |
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- When the mortgage loan application and other requested items are completed it is then sent for final approval.
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| Step #5 |
Closing! |
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- The documents are sent to escrow.
- The escrow officer completes the paperwork and an appointment to sign the paperwork is made with you.
- There is normally a 3-day processing period after you sign the paperwork before the actual closing of the mortgage.
- The documents are then recorded. this is the end of the mortgage loan process.
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"In most cases the mortgage process can take as little as 3 weeks!" |
