| DAY 1
Today you receive your loan application documents and should complete them with your loan consultant either in person or on the phone. The application package includes: - A checklist of documents and information that you need to provide
- A disclosures package including estimated loan costs - for your immediate signature
- This loan tracking system — keep it as a handy reference throughout your loan
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 | DAY 2
Send us your application including documents and signed disclosures. We can't get started without them and any missing pieces will cause delays. Remember this application isn't an approval to execute a loan, but it does give us that OK to start the process and verify your information. |
| DAY 3-4
With the application in hand, your loan consultant starts the verification process. We review and confirm income, debt and assets. Your loan officially starts when we give the documents to processing. The processor then orders: - Title and Escrow documents
- Payoffs on current mortgages (if applicable)
- Verification of employment and deposit (as required)
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| DAY 4-5
Your loan consultant orders your home appraisal and also makes certain the escrow instructions are on the way. Whew, we made it through the first week! |
| DAY 6-8
The appraiser contacts you to schedule an appointment. It's important to have the appraisal as soon as possible so we can submit your loan to underwriting.
Make your home sparkle inside and out. The appraisal is almost 50% appearance and curb appeal. |
| DAY 9-10
Appraisal time. The appraiser comes to your home and conducts the inspection. |
| DAY 11
Processor receives title and escrow documents and examines the title to make certain there are no liens or judgments that affect the loan. |
| DAY 12-13
Today you receive Escrow papers. Verify these documents for accuracy and send them back ASAP. If you have any questions — call your loan consultant or speak to the Escrow company directly. |
| DAY 14-15
We receive your appraisal. We review to make sure the value and all other items are correct. The value of your home is a critical factor in determining how much you can borrow and the terms of your loan. |
| DAY 16-21
Provided all the steps to date are complete, we submit the loan to underwriting. Final approval may take up to five business days and your loan consultant will advise if there are any outstanding conditions.
Take a deep breath— we're almost there! |
| DAY 22-23
We receive approval on your loan and a list of outstanding conditions. Your loan consultant calls to resolve any outstanding conditions. Time to refer two people to your loan consultant. |
| DAY 24-27
We confirm final figures and have the processor order loan documents. |
| DAY 28-29
Escrow receives your loan documents and it's time to arrange loan signing. Your loan consultant calls to schedule an appointment. A timely appointment speeds the closing of your loan. |
| DAY 30-31
You meet with a notary to sign loan documents. This is a critical step. The entire process stops until all documents are signed. |
| DAY 32-33
Documents are returned to escrow for final verification. Escrow reviews and sends final documents to lender's funding department. |
| DAY 34
Lender reviews loan documents to ensure all pages are signed and prepares loan to fund. Escrow signs paperwork. It's a dash for the finish! |
| DAY 35-36
Congratulations. Today your loan funds! Your loan is recorded at the county recorder's office and funds are wired to title and escrow. |
| DAY 37-39
Funds are distributed to all related parties (including you). Time to celebrate! |
| DAY 40
We send copies of your credit report and appraisal for your records. It's done! |
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