Application

Once you have found a home and have signed a purchase contract we can start the application process. Most likely at this point I will have most of your pertinent information and we will simply add the new property address to the application. I can send it, email it or you can come in and sign it. This along with the supporting documentation listed above is what we need to get moving forward .

Underwriting/Approval

Once we receive the application and the complete supporting documentation we will submit your loan to underwriting and order an appraisal on the property. The underwriter reviews everything and makes sure it meets guidelines and like I stated earlier verifies that you can actual pay this loan back. Since my team is very diligent during the pre-approval and application process this should be a formality.

Conditions

There may be some conditions on the loan once it is reviewed by an underwriter. This may be additional supporting documentation or some brief explanations that the underwriter may need. If this is the case we will make sure that you understand why these conditions are being requested and the best way to satisfy them.

Now you are approved and ready to close!

Closing

Now that the loan is ready to close all parties work to coordinate this. The attorneys will schedule the closing at a title company. The title company’s job is to insure clear title on the property, put you on the title of the loan and they actually conduct the closing.

We will contact you before the closing to go over the final figures and what you need to bring to closing. You will either need to bring a cashier’s check or arrange for a wire transfer (we will help you arrange this).

At the closing you will sign A LOT of documents. Most importantly will be the Mortgage and Note. When you are finally done, they will fund your new loan, hand over the keys to you and you are now a new homeowner.