Our loan officer and supporting team will assist you from application through the closing. Here is an overview of what you can expect:
Step 1: Submit Loan application
You will work with our loan officer to submit your home loan application and supporting documents
Step 2: Loan Estimate and Intent to Proceed
Within three (3) business days after receiving your loan application, we will provide you Loan Estimate which outlines the terms of your loan, including the loan amount, interest rate, projected payment and closing costs. If you agree the terms of your loan, please sign and return the Intent to Proceed form and all other initial disclosures enclosed in your welcome package. This usually will be done electronically.
Step 3: Processing and Verification
Our fulfillment team will review and verify the information and documents you provided. We will also order appraisal, title, flood certification on the property.
Step 4: Loan Approval
Our underwriter will evaluate the loan file and make credit decision based on specific loan program and product guideline. The loan officer will notify you by phone or email about our approval and work with you on getting those information or documents listed on commitment.
Step 5: Clear to Close
All commitment conditions will be reviewed and cleared by underwriter. Allow-to-Close (ATC) will be issued.
Step 6: Signing and Funding
After ATC, our closing department will issue Initial Closing Disclosure, send closing documents to settlement agent for you to sign. Once all signed documents are received, we will release the fund to settlement agent. The loan is funded and closed.