Our goal is to make the loan process as smooth as possible. We typically start with a 10 to 15 minute phone call to get an idea of your goals and qualifications. From there we will request your supporting documentation. Most lenders require the same type of documentation (pay stubs, bank statements and tax documents). Once we have the documentation we are able to compile your loan package. This includes filling out a loan application for you and compiling everything to emphasize your strengths and de-emphasize any weaknesses. If you are looking for a new property this is the point where you are considered pre-approved.
Once you have a property we will match your loan with the best lender for your particular needs and submit a complete loan package to the lender. Usually within one to five business days the lender will review the loan package and issue a conditional approval. During this waiting period we will order the appraisal and tie up any other loose ends. Often when the lender conditionally approves the loan they will ask for some sort of additional documentation. Once we have provided the lender with all of the requested documentation they will issue the final approval. When final approval has been issued we will have loan documents sent to escrow for signing. Most people go to the escrow office to sign but if your schedule does not allow you to do that we can arrange for a notary to come to your office or home.
After the loan documents are signed the escrow officer sends them back to the lender for final review. Our escrow officer will coordinate with the lender to fund the loan and make sure that any other liens on the property that are being paid are cleared. The day after the loan funds the escrow officer will record the transaction with the city and everything will be finalized.