Loan Process

What are the Steps in the Loan Process?

Step-1
You submitted your application with documents, and your loan process has started.

Step-2
The lender will send disclosures and the underwriter begins working on your file. At this point, the underwriter might request additional documents based on what you submitted in Step-1.

Step-3
At this very time-sensitive stage, loan is cleared to close, and your rate istypically locked in for a specific period of time, so deadlines are critical. Loan approval is still subject to any additional documents required in Step 2 and you must be VERY RESPONSIVE to any requests so that your rate lock doesn’t expire.

Step-4
Your loan is in Closing. Documents will go to escrow for you to sign.

Step-5
Congratulation! Your funding has closed.