The 3 Different Steps Your Loan Will Go Through!

1. Pre-Qualification – This is where we look at your total income, debts, credit, savings, money needed to close and your proposed monthly payment.

2. Loan Application – This is when your employment, income, debts and assets are put together and we start the verification process.

• Verifications : This is when your employment, income, money for closing, credit report, appraisal, title work, survey, and rent history are verified. All items must be received before your file is ready for underwriting. We are trying to meet your closing date. Rushing everything in at the last moment can delay your closing.
• Underwriting/Approval : The underwriter has the responsibility of making sure that your loan meets all the necessary guidelines. Additional documentation may be requested before final loan approval.

3. Closing: This is where you sign the final documents and you become the new homeowner. Your Realtor / Builder will make an appointment for you with the Title Company. If this date changes, we need to know as soon as possible. Any changes without all parties involved may delay your closing. You will need a **Cashiers Check made out to the Title Company. The Title Company will provide you with the final amount needed approximately 24 hours before closing. The figures on your Good Faith Estimate should be close to what is needed. Remember that the Good Faith Estimate is an estimate, not an exact amount. Please have the following taken care of before closing:

• Clear Termite Report - Fax to our office & bring original to closing.
• Homeowners Insurance - Contact your agent immediately and have him call us within 3-5 days of signing the sales contract for your new home.

** Cashiers Check - You will need certified funds for the exact dollar amount. It is OK to get more than necessary. Closing are scheduled with your title company between 8:30 am and 5:00 pm Monday through Friday. If you are married, you will both be required to be there. Call me if you have any questions on this.