Loan Application Steps
Send us the online pre-approval or loan application
Send us the needed loan document checklist
We will review all files, ask for missing files and discuss the Rate/Loan Term and Fee with you and lock your rate when you confirmed. Your rate won't be locked until we confirmed.
We will send you disclosures to sign and after we got all needed files back, we will package it and submit to lender's underwriting department (UW) and order appraisal report (Prepaid by you which might be refunded later depends on how we discussed)
Normally after 2-7 days we will get the first conditional approval/rejection back
We will submit additional documents to satisfy those conditions or resolve the issues
After some back and forth with UW, we will get full loan approval.
We will order the final loan doc for borrower to sign at escrow company, it will need to be notarized by a public Notary.
Any doc you signed, you will have 3 days to read and approve depends on loan types
The signed package will be returned to lender funding or closing department for final review. If there are any funding conditions, we will need to handle it immediately.
Lender funded the loan and the loan closed. Very rarely lender will request some after-closing documents.
We will review all final closing cost, resolve any issues and wrap up this transactions.
Congratulations and glad we have accomplished a great deal together.
Thank you and we are looking forward to your future business or any referrals!